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Germany pushes privatized bailouts

11-25-2010 13:35 BJT

Germany expects private investors to contribute to future bailouts, under a new euro zone crisis mechanism. The reform is to take effect from mid-2013, when the current temporary system is scheduled to expire.

Berlin says only by including the private sector can taxpayers be placated. And that can also avert the risk of legal challenges to bailouts. It's suggested private investors should face write-downs in asset value as collateral, or other debt-payment restructuring measures under the new crisis mechanism.

The German government is still working out the details for the proposals, which will serve as a basis for discussion by EU leaders.

Editor:Xiong Qu |Source: CNTV.CN

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