ECB’s Weber Says Debt Nations May Yet Face ‘Most Painful’ Time
This article is for subscribers only.
Bundesbank President Axel Weber said debt-burdened nations may yet have to face the “most painful passage” while calling on governments to include private state-debt holders in any future bailouts.
“Compared with a marathon, problem countries have maybe managed the first 15 kilometers,” Weber, who is also a European Central Bank council member, said at an event in Dusseldorf today. “Given my experience on this track, I can tell you that the most painful passage will come at a later point.”