Any restructuring of Greek debt on which the ECB holds bonds is legally impossible

Any restructuring of Greek debt on which the European Central Bank holds bonds is legally impossible, according to ECB executive board member Jorg Asmussen."We can neither extend the emissions of Greek debt bonts nor lower interest rates. Either would constitute an anullment...

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 E-mail article  Print  Save Additional News in English Još vesti na Srpskom Επιπλέον ειδήσεις στα Ελληνικά  Text

Any restructuring of Greek debt on which the ECB holds bonds is legally impossible



Balkans Business News Correspondent - 08.10.2012

Any restructuring of Greek debt on which the European Central Bank holds bonds is legally impossible, according to ECB executive board member Jorg Asmussen.

"We can neither extend the emissions of Greek debt bonts nor lower interest rates. Either would constitute an anullment of debt," said Asmussen.

The ECB executive clarified that the EU bank has no legal right to do such a thing in an interview for Bild am Sonntag, Novinite.com reports.


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