April 15, 2011 / 1:05 PM / in 7 years

Greek debt restructuring no disaster -German dep minister to BBG

BERLIN, April 15 (Reuters) - A restructuring of Greek sovereign debt would not be a disaster, a senior German government figure was quoted as saying by Bloomberg on Friday.

Germany would back a voluntary Greek debt restructuring, said Werner Hoyer, one of Germany’s deputy foreign ministers and a member of the junior coalition party Free Democrats (FDP).

“A haircut or a restructuring of the debt would not be a disaster,” he was quoted as saying.

If Greece’s creditors agreed that talks with Athens “would be helpful toward a restructuring of the debt, then of course this would be supported by us,” Hoyer was quoted as saying.

Reporting by Christiaan Hetzner; editing by Thomas Atkins/Ruth Pitchford

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