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ECB Constancio: Should Stick To Greece Fisc Consolidation Plan
BRUSSELS (MNI) - The European Central Bank continues to prefer that Greece adhere to its fiscal consolidation plan rather than seek a way out of its difficulties via debt restructuring, ECB Vice President Vitor Constancio said Monday.
Constancio was asked on the margins of a conference here about reports in German media claiming that such a restructuring was being examined by government officials.
He replied: "It's also said there that ministers of the German government denied that such a subject was on the table. As you know, at the ECB we also maintain the position that as long as we have a program with Greece, we should stick to the full implementation of that program, with all the adjustments that the future may deem necessary, as it is normal in such programs."
In other comments, Constancio said he expected a Portuguese program to be prepared in time for the Eurogroup meeting in mid-May and possibly as soon as this week.
BRUSSELS (MNI) - The European Central Bank continues to prefer that Greece adhere to its fiscal consolidation plan rather than seek a way out of its difficulties via debt restructuring, ECB Vice President Vitor Constancio said Monday.
Constancio was asked on the margins of a conference here about reports in German media claiming that such a restructuring was being examined by government officials.
He replied: "It's also said there that ministers of the German government denied that such a subject was on the table. As you know, at the ECB we also maintain the position that as long as we have a program with Greece, we should stick to the full implementation of that program, with all the adjustments that the future may deem necessary, as it is normal in such programs."
In other comments, Constancio said he expected a Portuguese program to be prepared in time for the Eurogroup meeting in mid-May and possibly as soon as this week.
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