EFSF Seen as Banks’ Backstop If Greece Defaults, FTD Says
By Tony Czuczka - Sep 15, 2011 8:19 AM GMT+0200 Thu Sep 15 06:19:44 GMT 2011
Europe’s rescue fund would have to be used to bail out banks facing losses on Greek sovereign bonds if the country defaults, the
Financial Times Deutschland reported, citing
people in Germany’s governing coalition it didn’t identify.
The comments show that European policy makers are considering the possibility of a Greek default, the newspaper reported today. The fund is known as the European Financial Stability Facility.
(Bloomberg)