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Greek finmin says no debt restructuring

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Greek finmin says no debt restructuring

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Greece is denying that it has plans for debt restructuring. Speaking in Washington, the country’s finance minister George Papaconstantinou said the “pain and cost” of doing so would be greater than repaying lenders.

Despite these assurances, German officials are openly discussing the possibility of Greece restructuring its debt, investors are charging a record amount to insure the country’s obligations and traders are continuing to bet on a default.