The solution to the Greek debt crisis could involve a "selective default". This was stated by Ewald Nowotny, governor of the Austrian National Bank and member of the Governing Council of the ECB, who spoke on the subject to the microphones of the US broadcaster CBNC.
A default situation would have serious consequences for Greece and for the ECB's ability to accept its debt securities as collateral, but "there are some proposals regarding a short selective default, which would not lead to particular negative consequences", added Nowotny, distancing himself from the president of the ECB, Jean Paul Trichet, who two weeks ago reiterated his no to the hypothesis. The Dutch Finance Minister had also declared the last week not to override the selective default option. The meeting of European leaders is now awaited in Brussels, who on Thursday will discuss the new bailout plan for the Greek country.
