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Asmussen: No ECB role in possible Greek debt restructure - paper
September 26, 2012 / 2:57 AM / 5 years ago

Asmussen: No ECB role in possible Greek debt restructure - paper

BERLIN (Reuters) - Greece’s possible financing gap can only be filled by euro zone states and the European Central Bank would not participate in any potential debt restructuring, ECB executive board member Joerg Asmussen told German newspaper Die Welt.

In an advance copy of an interview to be published on Wednesday Asmussen told the paper: “The ECB would not be able to take part in any such restructuring, because this would constitute state financing, which is forbidden.”

Greece would need 13-15 billion euros more in funding if it were given a two-year extension to its bailout plan, its finance minister said on Tuesday, the first time Athens has put a price tag on its plea for more time to get its finances in order.

The recession-battered country may also ask the European Central Bank to help it meet its goals by rolling over Greek bonds it holds rather than cashing them in.

Reporting by Alexandra Hudson

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