Nowotny: Greek Haircut for ECB “No Issue”

Politics ♦ Published: October 29, 2012; 16:38 ♦ (Vindobona)

The governor of Austria´s National Bank (OeNB) Ewald Nowotny thinks that ECB would not participate in a haircut.

Nowotny: Greek Haircut for ECB “No Issue” / Picture: ©

A haircut which would affect public creditors is no issue for ECB, Nowotny says. This would be a burden for the taxpayers. Moreover, a haircut would mean a direct financing of a Eurozone member country by ECB.

Nowotny underlined that ECB is independent and that the decisions taken by the Council are not influenced by political pressure. According to the governor of OeNB, Greece…