Germany says aid for Greece depends on private participation

1st June 2011, Comments 0 comments

Germany insisted Wednesday that private holders of Greek debt must participate in any new aid for Greece, a finance ministry spokesman said on Wednesday.

The spokesman said Berlin had "strong expectations" regarding the issue, which has pit Berlin against directors of the European Central Bank who warn that forcing private investors to take part could do serious harm to the Greek banking system.

© 2011 AFP

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