Greek Minister Haris Pamboukis: Default Not an Option

Default is certainly not an option because it will not resolve problems, it will create much more. What Greece is actually doing is… in fact we have a plan which is in two stages. The first one is how we’re going to make our budget healthy and the second is institutional reforms,” Greek minister of state Haris Pamboukis told CNBC. He added that time was of the essence and the Greek government had to “keep on going” with deficit reduction measures.