ECB opposes any form of default for Greece
The European Central Bank remains adamantly opposed to any form of default for Greece, whether whole or partial, ECB president Jean-Claude Trichet said on Thursday.
Trichet stressed that the bank's position had not changed and it was opposed to a partial default or any form of credit event that would be taken as a debt default.
"No credit event, no selective default, no default. That is the present message of the governing council," Trichet said.
He spoke against a background of warnings from credit rating agencies that a mooted debt rollover for Greece with voluntary participation by private bank creditors might still trigger a selective default rating.
© 2011 AFP