Private sector involvement in Greece may be harmful: ECB’s Bini Smaghi


Lorenzo Bini Smaghi, a member of the European Central Bank's executive board, on Monday warned the involvement of the private sector in resolving Greece's deficit could cause more harm than good.

At the Reinventing Bretton Woods Committee in Berlin, Germany, Bini Smaghi said: "Having the private sector actively involved in preventing and resolving sovereign crises is a good idea. However, the practical implementation of this idea is fraught with complications and, if done unwisely, may actually

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