Athens - Central Bank of Europe wants Greece to abandon debt Report of ideas and to focus on economic reforms to fix its finances, its former vice President Lucas Papademos said in Athens daily Ta Nea reported Friday.
Papademos, who now advises Prime Minister George Papandreou, transmitted the message by the President of the ECB Jean Claude Trichet at a meeting with Papandreou Thursday, the paper said.
"T forget about prolongation of deadlines, take action was now the content of the ECB chief Jean-Claude Trichet stern message that former Vice-President Lucas Papademos delivered to the Greek Government," the paper said citing of sources.
The ECB has raised the stakes in its bid to prevent a restructuring of the Greek debt by telling Governments that he would refuse to accept the bonds as collateral in the case of such an approach.
The threat made by a member of the Executive Council of ECB Juergen Stark at a Conference in Athens on Wednesday came after European Finance Ministers have suggested the possibility of a "soft restructuring" extensions of maturity of debt earlier this week.
Ta Nea Papademos said Papandreou Trichet and other senior ECB policymakers felt that Athens must proceed quickly with the privatizations.
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