ECB Governing Council member Luc Coene reportedly says Greece will need to write down debt in...

|By:, SA News Editor

ECB Governing Council member Luc Coene reportedly says Greece will need to write down debt in order to help resolve its problems. With the private sector already having taken haircuts on their Greek bonds, that seems to indicate that Coene is referring to debt held by public entities, such as EU governments. While that would put him in line with the IMF, it would put him at odds with the EU consensus, particularly Germany.