June 18, 2011
All parties negotiating a new bailout for debt-strapped Greece agree that private creditors should be involved, but the details of how that would happen are still under discussion, Germany's finance minister said.
In an interview with the Saturday edition of Boersen Zeitung business daily, Wolfgang Schaeuble reiterated Berlin's position that financing a new bailout for Athens should not be left entirely to governments.
"Fundamentally all parties agree that the private sector must do its part in a new Greek aid package -- but we are still discussing the 'how'," he said.
"We need a voluntary participation from private creditors, which firstly lends substantial support for Greece, second is quantifiable and third is reliable," he added.
The leaders of Germany and France, long at odds over how to involve private holders of Greek bonds in a new rescue package for Athens, said on Friday they agreed on a mild solution favored by Paris and the European Central Bank.
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