Refusing to take losses on its holdings of Greek paper, the ECB is considering other ways to...

|By:, SA News Editor

Refusing to take losses on its holdings of Greek paper, the ECB is considering other ways to assist the debt restructuring. Among them, a plan for the bank to sell its Greek bonds to the EFSF at the price it paid for them. Once the EFSF owns the paper, it could then accept a haircut. The key is to avoid the appearance of central bank independence being compromised ... too late for that.