European governments dropped clues that bondholders may have to take bigger losses on Greek debt in a second aid package, as Greece's deteriorating economic outlook forces bolder steps to quell the fiscal crisis.
Finance ministers considered reshaping a July deal that foresaw investors contributing 50 billion euros ($66 billion) to a 159-billion euro rescue. That private sector involvement, or PSI, includes debt exchanges and rollovers.
“As far as PSI is concerned, we have to take into account that we have experienced changes since the decision we have taken on July 21,” Luxembourg Prime Minister Jean-Claude Juncker told reporters early today after chairing a meeting of euro finance chiefs in Luxembourg. “These are technical revisions we are discussing.”
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