Officials of the European Commission, the European Central Bank and the International Monetary Fund are in Greece assessing the state of the economy to report to finance ministers meeting in Brussels on May 16 and 17, said a spokesman for the economic affairs commissioner, Olli Rehn.

The spokesman, Amadeu Altafaj, denied that a meeting Friday evening of some key finance ministers in Luxembourg was any sort of “ ‘crisis meeting on Greece,’ as presented in some press reports,” in particular Spiegel Online. The meeting, he said, was “informal,” but Greece was clearly a major topic of discussion and Greece’s finance minister, George Papaconstantinou, was asked to attend. He repeated that “debt restructuring is not an option on the table,” given that “its effects could be extremely negative for the country and for the euro area as a whole.”

Afterward, Jean-Claude Juncker of Luxembourg, who leads the group of euro zone finance ministers, said the Greek program “does need a further adjustment” that would be discussed in mid-May.

What is likely is a kind of soft restructuring, in which Greece will be given more time to pay its loans. Major bondholders — which include French, German and Greek banks, as well as the European Central Bank — could agree to exchange their debt for securities with longer maturities and even a lower interest rate rather than face the possibility of getting back only a percentage of their loans. That would make it less likely that the countries involved have to go to their taxpayers and ask for more money to prop up national banks, which would be deeply unpopular, especially in Germany.

Greece was given a 110 billion euro bailout last year, whose terms were already eased by the European Union in the spring.