Bloomberg News

Spain’s Salgado Says Talks With Banks Needed on Writedowns

October 21, 2011

Oct. 21 (Bloomberg) -- Spanish Economy Minister Elena Salgado said talks are needed with banks on plans to increase bondholder losses in a second rescue program for Greece.

“I think we have to discuss with the private sector and see what is suitable,” she told reporters in Brussels today after a meeting of euro area finance chiefs.

Ministers discussed investor losses of “more than 21 percent,” she said.

To contact the editor responsible for this story: Patrick Henry at phenry8@bloomberg.net


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