ATHENS: The European Commission and International Monetary Fund hastened Sunday to pacify debt-hit Greece after the government raised a suggestion that it embark on a huge assets sale.

The Commission, the IMF and the European Central Bank, issued a statement expressing "the deepest respect" for the "tremendous" fiscal overhaul the government had undertaken.

The three, known as the 'troika' in Greece, are supervising Greece's tough rigour programme and were reacting to a row that blew up on Friday.

One of their auditors said the Greek state should sell assets worth 50 billion euros ($68 billion) to reduce its rampant debt.

But that is a figure far beyond anything the government had indicated so far.

The joint statement from the troika was clearly designed to pour oil on the troubled waters. Greece's austerity measures were based on "mutual trust", they said.

"Our three institutions have full respect for the prerogatives and initiatives of the Government in all areas of economic decision-making, and our role is to advise and support the government while considering options during the decision-making process," they added.

"It is regrettable if a different impression was perceived at any time.

"We recognize the difficult challenges facing the Greek economy and we have the deepest respect for the tremendous efforts being made by the Greek people. We continue to support those efforts."