French Min: French Banks Face No Consequences From Greek PSI Deal
02/21/2012 | 10:03am French Minister for European Affairs Jean Leonetti Tuesday said French banks can deal with Greek debt restructuring without any consequences.
In the early hours euro-zone finance ministers finally settled on a deal for another Greek bailout, involving private creditors wiping out EUR107 billion of debt they are owed by Greece.
"French banks, who had anticipated this situation and thanks to their solidity, are in a situation such that there will be no consequences for French people and our banks," Leonetti told lawmakers in the national assembly.
He described the participation of private creditors as "moral and legitimate."
-By William Horobin, Dow Jones Newswires; +33 1 4017 1737; william.horobin@dowjones.com
