FRANKFURT (MNI) – Following is the text of the statement issued
Friday by European Central Bank Vice President Vitor Constancio to
clarify remarks he made earlier in the day at the ECB Watchers’
Conference:
“The ECB’s Vice-President Vitor Constancio replaces his earlier
statement of today regarding possible private sector involvement in the
Greek adjustment programme with the following:
“President Trichet made clear that the ECB’s Governing Council
excludes all concepts that are not purely voluntary or have any element
of compulsion, that entail any credit event or that entail any default
or selective default.”
“Mr. Constancio also recalls that President Trichet stated:
‘Whatever happens, it is not the ECB’s decision but the responsibility
of the governments. The ECB will apply its rules and framework as
regards the soundness of counterparties for monetary policy operations
and the quality of the collateral accepted in such operations.'”
–Frankfurt bureau tel.: +49-69-720142. Email: dbarwick@marketnews.com
[TOPICS: M$X$$$,MT$$$$,M$$EC$,M$$CR$,MGX$$$]
