“You should already have gone into debt restructure”

Christian Reiermann, the reporter of the German magazine “Der Spiegel”, talks to protothema.gr about his belief that restructuring the Greek debt is not only a must for our country, but that it would bring significant benefits both to Greece and the Eurozone. His articles on the pressure for immediate restructure exerted by the IMF on our country, are causing unrest and a series of reactions from leading finance operators in Europe.

Even though the article of the German magazine was dismissed by the formal IMF spokesperson, Reiermann fully supports the accuracy of his report and underlines that further postponement of restructuring will only bring problems to the Greek economy. Its tragic state one year after the implementation of the memorandum, and the weakness of the EU to play a decisive role in resolving the crisis are, according to Reiermann in his last article, the roots of the factors that will lead Greece to restructuring its debt.

He considers the measures implemented by our country as necessary and correct, and appears very optimistic about the immediate future of the Greek economy, while avoiding to answer on the issue of our country's exit from the Eurozone.
 
According to your sources and of course according to your point of view, do you think that the restructuring of the Greek debt is inevitable?

These are essentially two questions. The first is whether I believe it. Of course I think Greek debt restructuring is inevitable. I cannot accept that the total amount of the accumulated Greek debt is sustainable. The second question is whether my sources believe the same thing, and most of them do. In the latest issue of “Der Spiegel”, we wrote about the conference on Saturday, April 2. We revealed the doubts that existed among the Eurozone finance ministers about the success of the Greek effort, and their clash with the President of the European Central Bank, Jean-Claude Trichet.