UPDATE 1-Lazard hired to advise Greece but not on restructuring

* Greece hires Lazard for general financial advice

* Not to help on restructuring Greek debt

* Greece says will honour obligations, not restructure

(Combines Lazard, Greek finmin comments, adds background)

ATHENS, May 4 (BestGrowthStock) – The Greek government has hired
investment bank Lazard for financial advice but not on
restructuring its debt, officials said on Tuesday.

“Any form of debt restructuring is out of the question,”
Finance Minister George Papaconstantinou told Reuters. “No one
has been hired to advise us in this regard.”

A Lazard spokesman said earlier on Tuesday the bank had been
hired by Greek authorities but gave no information on the type
of advice it would give. This followed speculation prior to this
weekend’s international bail-out package for Greece that Athens
may be forced to consider some restructuring of its debt.

The spokeman later said restructuring not an option.

“Lazard confirms that it has been hired to assist the Greek
authorities. It is to be noted that a restructuring of Greek
debt has never been an option to be considered,” he said.

Lazard is currently involved with more than 70 restructuring
deals in over 20 industry sectors worldwide, according to the
bank’s website. It has recently advised Argentina, Ecuador and
Ivory Coast on sovereign debt restructuring.

“We remain firmly committed to honouring our contractual
obligations,” Papaconstantinou said.

Greece is expected to submit to parliament on Tuesday
deficit cutting measures worth 30 billion euros as part of a
three-year EU/IMF deal to secure 110 billion euros in loans for
the debt-ridden euro zone member.
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(Reporting by Dina Kyriakidou in Athens and Carolyn Cohn in

UPDATE 1-Lazard hired to advise Greece but not on restructuring