| 8.4°C Dublin

IMF deny Greek pressure

THE IMF has denied reports that it is pressurising Greece to restructure its debt or default.

German magazine Der Spiegel reported at the weekend that the IMF now believed that a restructuring of Greek debt was necessary.

However, an IMF spokesman dismissed suggestions that the current measures no longer suffice and that it would like to see interest rates on sovereign debt lowered or the amount of principal which Greece has to repay cut.

"As we have said consistently, the IMF supports the Greek government's position of no debt restructuring and its determination to fully service its debt obligations. Any reports claiming otherwise are wrong," the representative said.