Speaking in the European Parliament during a debate on strengthening economic governance in the Europe, EU Economic Affairs Commissioner, Olli Rehn voiced the Commission's support to the Greek government's efforts to restructure the country's economy.

The Commissioner said Greece, Sweden and Latvia were examples of countries that have managed to promote bold reforms without consideration of any political costs.

Commenting on Greece in particular, Rehn said that Greek Premier George Papandreou managed to win elections a few months ago, after promoting very bold reforms in the country. The Commissioner stressed that the Greek Premier and President of Socialist International promoted very bold reforms and succeeded in gaining the support of voters.

Rehn said the situation in Greece was very delicate and difficult and noted that efforts made by the Greek people and the Greek Prime Minister to promote these reforms should be acknowledged.

Stressing that such a scenario was neither desirable nor an option, he clearly dismissed talk of a debt restructuring by Greece or any other Eurozone member, saying that such a development could have very serious negative consequences.