Wall Street Journal
June 27, 2011
Deutsche Bank AG chief Josef Ackermann said a French-backed proposal for private-sector participation in a fresh Greek bailout was one of several options on the table but that it was too early to say if an agreement could be reached.
"There's still a lot of work to be done," he told a Reuters banking conference in Frankfurt. "We need all investors on board." A Deutsche spokesman confirmed the comments, which were first reported by Reuters.
European banks and government officials met in Rome on Monday for negotiations on how to structure the "voluntary" participation of private-sector creditors, primarily banks, in a bailout. The talks centered on a French proposal, backed by President Nicolas Sarkozy, for banks to reinvest half the proceeds from maturing Greek government bonds.
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