Wednesday, May 5, 2010

IMF chief describes Greek debt crisis as serious

The head of the International Monetary Fund says the debt crisis in Greece is serious and no "silver bullet" is available to resolve the issue easily.

IMF Managing Director Dominique Strauss-Kahn said that negotiations with the IMF over conditions for a support package were just beginning and would take some time for completion.

Strauss-Kahn told reporters, however, that the IMF was not considering any kind of restructuring of Greek debt that would make holders of the debt accept something less than full value for their loans. That worry has roiled markets in recent

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