PARIS: Euro zone countries will have to agree to a write-down on Greek debt of around half their value, Belgian Finance Minister Didier Reynders told France 24 television in an interview broadcast on Saturday.
Referring to previous discussions of a 21 percent "haircut", Reynders said: "We will have to at least double that. I think we won't be far away from abandoning half of the debt."
The finance minister said that a mechanism would need to be found to help banks to recapitalise where needed as a result, adding that the European Financial Stability Facility (EFSF) could play a role in this.
Comments
Comments are closed.