Quiz: "restructure" or "reimburse"?

The correct answer is: restructureAlthough politicians are still saying it won't happen, Greece may have to restructure its massive debts very soon.

Yesterday, the Greek government was forced to pay 4 per cent to borrow money for just 13 weeks. It's beginning to look very likely that Greece will not be able to continue borrowing at such high rates and will soon have to restructure its debts. We talk about "restructuring a debt" when a country cannot repay the full amount owed or when lenders are asked to allow a country to repay the debt over a longer period than had previously been agreed.

Greek officials have long denied that the country is preparing for a restructuring. Yesterday, however, Clemens Fuest, chairman of the German finance ministry's technical-advisory committee, said he believed Greece would default. "One must recognise the realities, I am expecting a haircut," the economist told Reuters. Greece is having to use half its tax revenue just to pay the interest on the debt. This cost is crippling Greece.

restructure a debt = umschulden

If you reimburse someone, you pay something back to that person.

"The company will reimburse you for all your travel expenses."

reimburse sb. for sth. = jmdm. etw. rückzahlen, erstatten