June 9, 2011
French Finance Minister Christine Lagarde said any resolution to the Greek debt issue can’t trigger what she called a “credit event” and must avoid involuntary debt restructuring.
“Within those parameters then there is a lot of working and thinking and exploring at the moment but nothing that could be done involuntarily,” Lagarde said in a brief interview today in Beijing, where she is seeking to bolster her candidacy for the post of International Monetary Fund managing director. “So in any event it will have to be voluntary and well announced.”
Lagarde’s remarks come after German counterpart Wolfgang Schaeuble earlier this week said that bondholders must contribute a “substantial” share of a second aid package to Greece.
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