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Tags: EU | Europe | Financial | Crisis

German Banks Prepared to Help Greek Bailout

Thursday, 30 June 2011 09:46 AM

German Finance Minister Wolfgang Schaeuble says the country's banks have told him they are prepared to contribute to the Greek bailout.

The comments Thursday came after Schaeuble held closed-door talks with representatives of Germany's banks.

Details are yet to be finalized, but Deutsche Bank CEO Josef Ackermann says a French plan will serve as a "basis."

French President Nicolas Sarkozy said Monday that French banks are ready to help Greece by accepting a significant debt rollover. He says the plan would see banks reinvest their Greek debt holdings over 30 years.

French banks, with some 15 billion euros ($21 billion), and German banks, with 16 billion euros, are among the biggest holders of Greek sovereign debt according to the Bank of International Settlements.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


FinanceNews
German Finance Minister Wolfgang Schaeuble says the country's banks have told him they are prepared to contribute to the Greek bailout.The comments Thursday came after Schaeuble held closed-door talks with representatives of Germany's banks.Details are yet to be finalized,...
EU,Europe,Financial,Crisis
123
2011-46-30
Thursday, 30 June 2011 09:46 AM
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