Private role in Greek debt 'voluntary': Merkel, Sarkozy

17th June 2011, Comments 0 comments

German Chancellor Angela Merkel and French President Nicolas Sarkozy said on Friday that private involvement in a new Greek rescue must be voluntary but gave no details on how this would work.

"We want involvement of the private sector on a vountary basis. I want to stress this. There is no legal basis so far for there being obligatory involvement," Merkel told reporters in Berlin after talks with Sarkozy.

"This must be worked out together with the ECB (European Central Bank) so that there are no contradictions with the ECB," she said.

© 2011 AFP

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