www.fgks.org   »   [go: up one dir, main page]

Major Banks and Insurers Are Asked to Assist in a 2nd Greek Rescue Package

BRUSSELS — Efforts to prevent a Greek default accelerated on Wednesday when at least three euro zone governments called in representatives of large banks and insurers to urge them to contribute to a second large rescue package.

A German government official confirmed that talks had begun with banks over possible participation in a second Greek bailout but declined to speculate on the amount that the private sector might produce. Germany has said it is opposed to anything but voluntary private-sector involvement in future rescues.

The French insurers’ association, F.F.S.A., said insurance companies had been invited to discussions with French government officials. Germany and France are among the euro zone countries most exposed to Greek debt.

The Dutch finance minister, Jan Kees de Jager, said Wednesday that he was hopeful his government could encourage the country’s banks to play a role in a second Greek rescue.

“All countries are in talks with banks, and the Netherlands is no exception to that,” Mr. de Jager told Bloomberg News in Amsterdam.

“For the Netherlands, a voluntary contribution from the private sector is very important.”

Though Greece received 110 billion euros ($159 billion) in loans last summer from its European Union partners and the International Monetary Fund, it has become clear that the country will need another substantial bailout by the autumn.

European leaders are scheduled to meet Thursday in Brussels for talks expected to focus on the Greek crisis.

By summoning banks and insurers that have the greatest exposure to Greek debt, policy makers are hoping to determine how much the private sector is willing to contribute to another bailout, said officials in two countries briefed on the discussions but not authorized to speak publicly.

That calculation should be made in time for a meeting of finance ministers on July 3 and is crucial to the formulation of the second bailout because it will determine how much national governments will have to lend, the officials said.