BERLIN (MNI) – European Central Bank president Jean-Claude Trichet
said Thursday that the central bank is very alert about the Greek debt
crisis, but he declined to judge the current French plan for private
sector involvement in a new bailout package.
“At this stage, we have not yet a position of governments…that we
could examine,” Trichet told the European Parliament. “And I will say at
this stage, we are very alert; we are following what is going on but I
cannot give you a precise judgement or advise on what is going on.”
Trichet stressed once again that the ECB will not take part in any
rollover of its Greek bonds. “It is a private sector involvement,” the
ECB President stressed. “It is not a public sector involvement, so I
said already that we do not envisage to participate ourselves.”
Trichet said the ECB is following the negotiations between the
governments and the financial industry about private sector involvement
“very, very closely.”
“We had, as I said, our own advice, which is don’t embark on
compulsory operations and avoid selective default, avoid credit events!”
the ECB president reiterated.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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