Greek debt could undergo a soft restructuring if Athens embarks on major reforms and accelerates privatization to raise funds, the chairman of euro zone finance ministers Jean-Claude Juncker said on Tuesday.
Greece must rapidly privatize 50 billion euros of assets so that its medium and long-term public debt becomes sustainable, because at the moment it is unsustainable, he told a Lisbon Council seminar.
If Greece makes all these efforts, then we must see if it is possible to make to a soft restructuring of Greek debt. I am strictly opposed to a major restructuring of Greek debt.
(Reporting by Jan Strupczewski and Daniel Flynn, editing by Rex Merrifield)