German Banks Haven’t Reached Decision on Greece, Boersen Reports

German financial institutions have so far not reached a decision on participating in a Greek rescue by rolling over the country’s debt, Boersen-Zeitung reported today, without saying where it obtained the information.

The banks and insurers, which met with central bank representatives in Frankfurt on June 22, want a European Union guarantee on the Greek debt they may prolong the maturities on, the newspaper said. The German financial institutions will submit proposals before Sunday evening on the potential amount they are willing to roll over, Boersen-Zeitung reported.

To contact the reporter on this story: Niklas Magnusson in Hamburg at nmagnusson1@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

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