The Greek government on Monday presented a plan for the restructuring of LARCO GMMSA by placing the mineral and metallurgical industry into a clearance management status which envisages cost and wage reductions, and an immediate launch of a tender for the selling of the factory and mines within 12 months. 

IMF chief Christine Lagarde denied that the Fund had erred in the time it proposed for restructuring the Greek debt, essentially refuting a report issued by the IMF at the beginning of summer, which said the decision had been delayed.