Germany Press: EU Leaders To Meet Next Wk Over PSI For Greece
BERLIN (MNI) - EU heads of state and government will likely meet next week to agree on the basic principles of private sector involvement (PSI) in the planned new fiscal rescue package for Greece, German weekly Die Welt reported Friday in a pre-release of its Saturday edition.
In all likelihood, the EU leaders will meet next week but not before Wednesday, the paper wrote.
According to Die Welt, the Eurozone governments are currently negotiating about several options from which banks might even have the right to choose. Two of the options being discussed are an exchange of old Greek bonds into new ones, possibly with an EU guarantee, or a bond buyback by Greece with money from the European Financial Stability Facility, the paper wrote.
In return, Greece would have to agree to further consolidation steps.