Greek debt restructuring costs outweigh benefits

ATHENS: Greece believes that a restructuring of its debt would do more harm than good, Greek Prime Minister George Papandreou said on Tuesday.

"We, the Greek government, European institutions, the other Eurozone countries all continue to believe that the costs far outweigh any potential benefits," he told an economic conference.

Europe's top financial officials broke a taboo on Tuesday and acknowledged for the first time that Greece may have to restructure its debts.