The IMF denied the information on debt restructuring of Greece

International Monetary Fund and Greece denied the publication of the German magazine Spiegel, according to which the foundation specialists insist on restructuring the debt of Greek According to the magazine, the IMF, which together with the EU participates in the 110-billion-dollar package to help Greece, has revised its position and now considers restructuring debt required. Greece's public debt exceeded 150% of GDP. "There is absolutely no possibility of restructuring the Greek debt. Who says otherwise does not understand that the price of this will be much higher than the benefits, "- said Minister of Finance of Greece Giorgos Papaconstantinou at a conference in Italy in which he participates. The IMF representatives also denied publication, RIA Novosti reported. "The IMF supports the position of the Greek government that the debt restructuring will not, and its commitment to fully meet its debt obligations. All other statements are false ", - said the IMF representative. Strict austerity program, which implements Greece, has helped significantly to reduce the budget deficit, but led to a worsening recession in the country, rising unemployment and reduced incomes. In this case, the prospects for return in Greece on the debt market does not become clearer since then, both the EU and the IMF "rescued" from the default of Athens in May 2010. Greek bond yield continues to be at record levels, which does not allow Greece to return to long-term borrowings and rating agencies conducted in March, the second wave of Greek abbreviations rating, already is in the category below investment.