18 May 2011

Europe finance ministers discuss Greece crisis

1:19 pm on 18 May 2011

The debt crisis in Greece is still unresolved after a meeting of Europe's finance ministers.

In 2010, the country received a 110 billion bail-out, but there is speculation that Greece will not be able to meet its debt payments and needs another 60 billion euro to keep afloat.

Officials fear a restructuring will undermine confidence in other bailouts, but there is now talk of what is called a debt reprofile.

The idea is to avoid a full scale default or formal restructuring, and instead get lenders to roll over the debt for a longer period.

Politicians see this as a way of giving the country more time to pay without letting it off the hook.