Weidmann Didn’t Back ECB’s Bond Swap Decision, Spiegel Says
European Central Bank governing council member Jens Weidmann didn’t support the bank’s decision to swap its Greek bonds for new ones to ensure it isn’t forced to take losses in a debt restructuring, Spiegel magazine reported, citing ECB officials it didn’t name.
Special rules for the ECB may prompt legal action by other Greek bondholders, and increase investor doubts about other peripheral euro countries such as Portugal, possibly worsening the debt crisis, the magazine said.
To contact the reporter on this story: Rainer Buergin in Berlin at firstname.lastname@example.org
To contact the editor responsible for this story: James Hertling at email@example.com
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.