ECONOMY

ECB’s Hansson says no reason to consider idea of Greek default

There is no reason to consider the idea of Greece defaulting on its debt, European Central Bank Governing Council member Ardo Hansson said on Wednesday.

“The plan that everyone is working on at present is to reach an agreement. All sides have said that they don’t see …(a Greek default) as a desired outcome,” Hansson, who is also Estonian central bank governor, told a news conference.

European policymakers are growing increasingly concerned about Greece’s ability to meet its financial obligations as a standoff over economic reforms between the government and its international lenders drags on.

“The discussions have been difficult and frustratingly slow, but still nobody has indicated that they are pursuing any other plan,” Hansson said.

Greek authorities had said they intended to respect their debt obligations, “so I see no reasons to speculate on other scenarios.” [Reuters]