Germany and France are agreed that a selective default on Greek debt is possible, enabling private sector involvement to solve Greece's debt crisis, Dutch Finance Minister Jan Kees de Jager said on Thursday.
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Speaking in the Dutch parliament, De Jager said there were still a range of options for how banks would contribute to Greece's debt, including swapping existing debt below nominal value for longer-dated debt.
"The demand to prevent a selective default has been removed. We can continue with the bank plan, which is still confidential. But that plan has the options I have just described, a menu of options. But it will lead to private sector involvement," he said.