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    Dutch minister warns of forced Greek debt losses

    Associated Press – Mon, Jan 23, 2012

    BRUSSELS (AP) — The Dutch finance minister says Greece's private creditors may be forced to take losses if they can't reach a deal to cut the country's massive debt pile voluntarily — the first eurozone finance minister to do so.

    Jan Kees de Jager said Monday that "we've never said it (the debt restructuring) must be voluntary. Our goal is a sustainable debt. It has our preference if it's voluntary, but it's not a precondition for us."

    De Jager has become the first finance minister of the 17 countries that use the euro as their currency who has openly raised the prospect of forcing losses on banks and other investments firms.

    Talks between Greece and private creditors to cut the country's debt pile by euro100 billion ($129 billion) have hit an impasse over disagreements over the interest rate on new, lower valued bonds.

     

    3 comments

    • Sue B
      Sue B  •  4 mths ago
      Following the 2012 election, this will be the US. The tax payer is going to pay for all of the stimules'; all the social engineers, extended unemployment; oh and all the promises Obam makes to win re-election.
      • BMS
        BMS 4 mths ago
        Don't forget all the debts racked up from 10 yrs. of wars and occupations, world domination, world policing, covert wars, drone attacks, etc, etc.
    • Ron
      Ron  •  4 mths ago
      The European bondholders have to be re-educated that their bonds are "social" investments that the politicians can reprice at their convenience. It's all for the greater good so that the Greeks can work 24/7......24 hours a week and 7 months a year.
    • C
      C  •  4 mths ago
      Oh, for the ability to unilaterally say "I don't want to owe that much, so #$%$ I don't owe that much."
     Post a comment
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