Oct. 22 (Bloomberg) -- Swedish Finance Minister Anders Borg said “substantial” writedowns for bondholders are needed on the value of Greece’s debt.
“We need substantial haircut on Greek debt,” Borg told reporters today in Brussels. “We shouldn’t treat taxpayers money as a freebie for banks,” he said.
“Any recapitalization has to be followed by ownership and control,” Borg said. “We have to restore credibility and that has to be capital.”
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