Member access

4-Traders Homepage  >  News


Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Bundesbank's Weidmann : Greek Debt Writedown Question Open

11/16/2012 | 07:17am US/Eastern

By Harriet Torry

BERLIN--The head of Germany's Bundesbank said Friday the question of a writedown of Greek debt is "open," but said that such a move would raise difficult questions over the willingness toward reform programs in other euro-zone countries.

Jens Weidmann, who is also a governing council member of the European Central Bank, didn't specify whether any potential debt writedown would involve private creditors or the public sector.

"Debt sustainability is not a given," in Greece, Mr. Weidmann said at an economic forum in Berlin. He added that a writedown wouldn't solve Greece's problems without reform.

Mr. Weidmann also said the ECB is acting outside of its monetary policy mandate with the Outright Monetary Transactions program, through which the ECB can purchase unlimited amounts of government bonds from states that have agreed to terms for financial assistance from the European Stability Mechanism.

"I think that we are no longer in the core area of monetary policy [with OMT]," Mr. Weidmann said in a podium discussion.

Write to Harriet Torry at

React to this article
Latest news
Date Title
<1m ago DR REDDY LABORATORIES : . Reddy's announces the Launch of Over-the-Counter Fexofenadine Hyochloride 60 mg and Pseudoepheine Hyochloride 120 mg Extended-Release Tablets
<1m ago Air China plans direct Beijing-Auckland service
<1m ago LOCKHEED MARTIN : Opens Surface Navy Innovation Center
<1m ago BOEING : Statement on Kuwait Airways' Intent to Purchase 10 777-300ERs
1m ago GOLDMAN SACHS : Aston University - Ambitious small businesses can accelerate growth and job creation
1m ago NANO LABS : Cardiff University - 'Clean sky' aviation research takes off
1m ago EUR/USD Breaks Channel from November Low, AUD/USD Skewed by PBoC
2m ago VOLKSWAGEN : announces multi-billion investment plan on expansion, models
2m ago FIDELITY SPECIAL VALUES : Doc re. Monthly summary as at 31 October 2014
2m ago RESEARCH AND MARKETS : Japan Mobile Demand Market to 2015: Mobile Subscriptions by Operators - NTT Docomo, KDDI-au, Softbank, WiLLCOM & J:COM
Latest news
Hot News 
SECOND SIGHT MEDICAL PRODUCTS : Announces Pricing of Initial Public Offering
SNOOZEBOX : Providing Temporary Hotel For Premier Oil
FAIRFX : Taps John Pearson To Replace Co-Founder As Chairman (ALLISS)
EBIQUITY : appoints two new Board Directors
STATPRO : Director/PDMR Shareholding
Most Read News
1d ago MORGAN STANLEY : Oil Price Plunge Tells Morgan Stanley OPEC Action Is More Likely
1d ago DTE ENERGY : announces expansion in Bluestone system
6h ago HONDA MOTOR : Japan's transport ministry tells Takata to investigate air bag issue
1d ago Under Senate glare, Goldman rejects commodity manipulation
1d ago Takata executive warns about ability to fix deadly air bag flaw
Most recommended articles
<1m ago EUR/USD Breaks Channel from November Low, AUD/USD Skewed by PBoC
2m ago VOLKSWAGEN : announces multi-billion investment plan on expansion, models
6m agoDJChina Central Bank Cuts Interest Rates -- Update
9m agoDJEuropean Stocks Surge on Draghi Stimulus Comments -- 2nd Update
9m agoDJBlackstone to Buy General Electric's Japan Property Business
Dynamic quotes