debt restructuring

On the occasion of the inauguration of the Thessaloniki International Fair, the Greek Prime Minister George Panjandrum said that debt restructuring would be "catastrophic for the economy." Faced with 20,000 demonstrators from Saturday to challenge his austerity policy, George Pandemonium, Greek prime minister, has remained firm in its position: further austerity and strict refusal to restructure its debt. "The logic of the debt restructuring would be catastrophic for the economy, for our credibility, our future," Polyandrous stressed Sunday during a press conference in Thessaloniki (northern Greece), after announcing Saturday the main lines of economic policy for 2011.