Banks, Pension Funds Run Risk on Greek Plan, Wellink Tells NRC

Banks and pension funds run a risk if they contribute on a voluntary basis to another rescue operation for Greece, European Central Bank Governing Council member Nout Wellink said in an interview, NRC reported.

“Pension funds have Greek bonds,” Wellink said, according to the Dutch daily newspaper. “They can sell them with a small loss to limit the risks. But they are being asked to keep the bonds. They then run the risk that the damage is three or four times higher.”