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


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.

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  • june1234
    , contributor
    Comments (4356) | Send Message
     
    Everybody knows austerity does not work and they keep doing it Lending them mo money to pay off loans they cant pay while requiring them to shrink their tax bases as part of the deal. A 10 yr old can figure that one out
    15 Nov 2012, 09:06 AM Reply Like
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