Moody's: The dependence of Greek banks by the ECB to continue in the event of restructuring

Debt Restructuring in Greece will save depending on the country's banks from the European Central Bank (ECB) in the foreseeable future, says Moody's Investors Service, explaining that the negative attitude of the Central Bank eurozone to a solution of Greek problem. Extension of the maturity of debt or voluntary swaps of government bonds (European officials called such measures soft restructuring ") will be considered by investors 'default, and Greece will lose access to international capital markets for the long term, reports Bloomberg citing research analysts Moodys'. "Greek banking sector will require recapitalization to offset bank losses on Greek government bonds, and liquidity support from the European Central Bank - at least until most of Greece is not yet available to the capital markets will be difficult" - the document says. Moody's analysts did not evaluate the probability of default, and tried taking it for granted, to calculate the likely consequences of this step. Representatives of the ECB stressed that a default is not a reasonable way out of this situation. The head of the Bank of France and member of the ECB, Christian Nuaye ruled out the possibility of restructuring the Greek debt, calling it a "nightmare" that could not accept the central bank. ECB Executive Board member Lorenzo Bini Smaghi said Tuesday that Greece "has no other alternatives other than repayment of debt and the continuation of the economic reform program." "We expect that the Greeks will pay on its debt - he said. - The best way to achieve this - to implement the program, which was agreed with the IMF and the European Union and which are likely to need additional support." "Waiver of debt will not solve the problems of Greece, on the contrary, it will only aggravate its current problems," - says Smaghi. The Government of Greece on Monday approved an accelerated plan to sell assets, as well as new measures to reduce budget spending by 6 billion euros to get extra help from the European Union and the International Monetary Fund. On materials the Interfax-Ukraine