European governments dropped clues that bondholders may have totake bigger losses on Greek debt in a second aid package, asGreece's deteriorating economic outlook forces bolder steps toquell the fiscal crisis.
Finance ministers considered reshaping a July deal that foresawinvestors contributing 50 billion euros ($66 billion) to a159-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 thatwe have experienced changes since the decision we have taken onJuly 21,” Luxembourg Prime Minister Jean-Claude Juncker toldreporters early today after chairing a meeting of euro financechiefs in Luxembourg. “These are technical revisions we arediscussing.”
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