Friday, January 27, 2012

Juncker: Euro zone may need to help Greece more

January 27, 2012

Euro zone members may have to increase their financial support for Greece if Athens and the private sector do their part to address the country's debt crisis, Eurogroup head Jean-Claude Juncker told a newspaper.

"If Greece's ability to sustain debt is proven and there is an overall understanding with the private sector, then the public sector will also have to ask itself if it will not provide help," he told Austrian paper Der Standard in an interview published on Friday.

He said it was up to the European Central Bank to decide what role it would play in contributing to debt relief via its holdings of Greek state bonds.

"The central bank is independent and it is not appropriate for the president of the Eurogroup to give public advice to the defenders of the currency," he was quoted as saying.


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