Any extension of the maturities of Greek bonds would have to involve private investors, German Finance Minister Wolfgang Schaeuble said.

Schaeuble, in an interview with ARD television in Berlin today, said while it’s too early to say whether Greece needs more help with its debt crisis, “extra measures” may be needed if the country can’t return to financial markets next year as planned under the European-led aid program agreed last year.

If an extension of maturities came into play, a “central point would be” to avoid “the private sector steadily withdrawing from its positions” and shifting the burden to taxpayers, he said. “That’s why we need clear rules: If there is an extension, then everyone has to be extended.