Germany’s Schäuble calls for bond swap on Greek debt


Wolfgang Schäuble, Germany's finance minister, has urged the European Central Bank (ECB) to consider provisions to allow bondholders to "swap" their existing Greek government debt.

The central bank has softened its hardline stance against any change in the terms offered to investors in Greek debt, with Jean-Claude Trichet, the ECB president, reported as saying in Montreal on Wednesday that he had some "sympathy" for a Vienna Initiative-style arrangement, whereby investors would be required to

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