Angela Merkel’s CDU will raise the subject of forcing investors to take a discount on Greek debt in talks with the IMF and the ECB tomorrow, a senior party spokesman has said.
Norbert Barthle, CDU budgetary spokesman, opined that banks holding Greek government debt should be made to help to contribute to a rescue of debt-stricken Greece because they had profited from the crisis in recent months and also “had speculated against Greece in part.” He went on to say “that would mean whoever bought Greek bonds wouldn’t get 100% of their value but say only 80, 90, or 70 percent – – it depends” He added it was too early to say how much of a discount on the debt should be sought.
This whole saga just gets crazier and crazier. Suffice it to say this announcment has helped pressure EUR/USD lower.
