EU Regling: Greece Unlikely To Return To Markets In 2012 
 
        LUXEMBOURG (Dow Jones)--Greece is unlikely to be able to return to the  markets next year, and if this is the case all options will be on the  table to resolve the problem, the head of the European Financial  Stability Facility Klaus Regling said Friday. 
    "It looks likely that the program designed for Greece a year ago has  to be adjusted because this program assumed Greece would be able to  return to the market," Regling said. "It seems unlikely that is possible  in 2012." 
    No decisions have yet been taken as European policy makers await a  report from the European Commission, the European Central Bank and the  International Monetary Fund, which are all in Greece at the moment. 
    Decisions on action to take will only be taken once it is known for  certain that Greece will be out of the markets next year, Regling said. 
    The best way forward would be further privatizations, although that may not have an impact soon enough, he said. 
    Further fiscal consolidation is an option, but it should be examined if that will be detrimental to growth, Regling said. 
    Still, he said nobody wants to create a "credit event," which could result from restructuring Greek debt. 
    "If something on the debt has to be done, nobody would want to do  something that would lead to a credit event, but otherwise all the  options will be on the table," he said. 
    Regling also said that while he remains optimistic for the euro area  as a whole, Greece, Ireland and Portugal will face problems for a  "number of years" and will have to continue with tough adjustments.