Brussels says Greek loan extension ‘media invention’

EUObserver reports that the European Commission said on the 12 October 2010 that there were no ongoing discussions to permit an extension to paying back Greece's €110 billion loan after the Greek finance minister had mooted the idea a day earlier.

A spokesman for the EU executive dismissed the reports as media flutter, although one Greek economist suggests that the debate was in reality about Brussels, the IMF and Athens preparing the ground - via a debate in the press - for debt restructuring.

• Primary Source

ESO: Background information: Greece plans deeper spending curbs http://www.europeansources.info/record/greece-plans-deeper-spending-curbs/

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