Extending Greek debt maturities technically an option: German finance ministry

BERLIN (Reuters) - Extending maturities for Greek debt is an option as long as it does not significantly reduce the value of the debt, a spokesman for the finance ministry said on Wednesday, adding otherwise it would amount to a haircut through the backdoor.

"Technically, this possibility exists," said finance ministry spokesman Martin Jaeger when asked about the option of extending the maturities of Greek debt to 30 years or so.

"That is certainly an element that one can consider, but it will not be the solution if it leads to a significant reduction in the cash value (of the debt) as then we would in the end have nothing other than a debt haircut via the backdoor," he said.

Germany has repeatedly ruled out a debt writedown.

He also said that Germany took the International Monetary Fund's (IMF) assessment of Greek debt seriously but that Berlin still believed debt sustainability could be achieved in Greece through fiscal and structural reforms and economic growth.

(Reporting by Madeline Chambers and Caroline Copley)

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