Herman Van Rompuy rejects Greek debt restructure intentions

European Council President Herman Van Rompuy held meeting with Greek Prime Minister George Papandreou in Athens, Greece, April 12, 2011. During his one-day visit to Greece, Rompuy expressed confidence the country will overcome a severe debt crisis.

European Council President Herman van Rompuy on Tuesday turned down Greek debt restructure scenarios, strongly supporting the Greek government’s exit plan from the crisis through austerity and structural reform measures.

“The prospect of a restructure of the Greek debt is out of question,”stressed van Rompuy during a joint press conference after talks with Greek Prime Minister George Papandreou during his visit here.

Greece should focus on efforts to slash a budget deficit which stood at 15.4 percent of GDP in 2009 to less than three percent of GDP in 2013 through the pledged “courageous” policies and bold privatization program, he added.