BBC News
June 21, 2011
Following last week's agreement between Angela Merkel and Nicolas Sarkozy that any private-sector contribution to Greece's rescue would be voluntary, not a compulsory roll-over of credit or formal write-down of the 340bn euros owed by the Greek government, there has been understandable interest in what on earth the eurozone has in mind.
These uncertainties came to a head late on Sunday night, in a conference call between the leaders of the G7 developed economies - whose main point was to brief the US and the Canadians about attempts to stabilise and quarantine the Greek financial problem.
Because US banks have the second biggest exposure of any country's banks to the Greek economy, Tim Geithner, the US Treasury secretary, was particularly interested in learning what France and Germany mean by "voluntary" contributions.
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