EU’s Juncker Says Greek Aid Needs ‘Further Adjustment’
May 06, 2011, 6:08 PM EDTBy Stephanie Bodoni
(Updates with further quotes from second paragraph.)
May 6 (Bloomberg) -- Luxembourg Prime Minister Jean-Claude Juncker, head of the group of euro-area finance ministers, said today that Greece’s financial assistance program “does need a further adjustment” that will be discussed at the group’s next meeting.
Juncker, speaking to reporters in Luxembourg said that EU officials are “excluding the restructuring option which is discussed heavily in certain quarters of the financial markets.”
“We think that Greece does need a further adjustment program,” Juncker said. “This has to be discussed in detail.”
European finance officials met in Luxembourg for an unscheduled session that included talks on Greece.
Earlier, Spiegel magazine reported that ministers were convening an emergency meeting after Greece threatened to withdraw from the euro region. Greece rejected the report, according to a finance ministry statement. German Chancellor Angela Merkel’s chief spokesman “categorically” denied that any discussions on a Greek exit were under way.
To contact the editor responsible for this story: Kevin Costelloe at kcostelloe@bloomberg.net
