Germany's chancellor has not categorically ruled out restructuring Greece's debt, but maintains that European leaders are "trying everything" possible to avoid it, according to AP. Angela Merkel told public broadcaster ARD Sunday that private creditors should now contribute to rescuing Greece "voluntarily" in a bid to avoid further steps. Asked whether she is ruling out debt restructuring - a move that would force losses on creditors - Merkel only said such a move may "have the negative effect that the countries reduce their efforts" in tackling their debt. Merkel adds she is not aiming at a restructuring but the "inclusion of private creditors does show that we have a special problem in Greece because of the very, very high debt level." EU leaders will hold a summit to find a response to the Greek crisis Thursday.
