5.10.11

French Minister: Open to Bigger Greek Debt Haircut

French Finance Minister François Baroin Wednesday said the extent of private-sector involvement in bailing out Greece may need to be reexamined after the volatility on financial markets over the summer.

The comments mark a public acknowledgment from France—which up until now has argued that an agreement by euro-zone heads of state on July 21 should be applied in full—that further participation from private-sector creditors may be required as Greece's financial crisis deepens.

http://online.wsj.com/article/SB10001424052970203388804576612354291071740.html?mod=europe_home

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