German Banks Agree to Roll Over Greek Debt

PARIS — The biggest financial institutions in Germany followed the lead of their French counterparts Thursday by agreeing to roll over some of their holdings of Greek debt — a crucial step toward obtaining international agreement on a second bailout for the crippled Greek economy.

The German finance minister, Wolfgang Schäuble, said in Berlin that banks and insurance companies were “prepared to participate in a second aid program for Greece” as part of a wider European deal.  Read more

Categories: Economics, United States

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