Sarkozy Rules Out Greek Debt Restructuring

French President Nicolas Sarkozy ruled out Friday an overall restructuring of Greece’s debt but left open the door for “sharing the burden” with the private sector. Speaking after discussions with German Chancellor Angela Merkel at the G8 summit here, Sarkozy explained that he shared Germany’s long-standing position that governments as well as their taxpayers should not shoulder responsibility for the financial crisis alone.

“France will not use the word ‘restructuring’,” Sarkozy declared. “We must not envisage this reality.” – iMarketNews