Greece should restructure debt now: Bruegel think-tank

(Reuters) - Greece's debt burden is so large that Athens will not be able to service it without a restructuring and the sooner that happens, the smaller the loss for investors would be, researchers from the influential Bruegel think-tank said.
The European Commission forecast last November that Greek public debt will rise to 150.2 percent of gross domestic product from 140.2 percent in 2010 and then to 156 percent in 2012.
"We think that Greek debt is unsustainable and should be restructured and it is better if it happens now than later," said Bruegel's Zsolt Darvas, who is preparing the research together with Bruegel members Jean Pisani-Ferry and Andre Sapir.
Bruegel research is often reflected in the decisions of euro zone policy-makers.
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