Former Greek FinMin: ECB must write down Greek debt

Remember, the ECB’s Greek bond holdings were untouched by the Greek debt restructuring last spring.

Former Greek FinMin Papaconstintinou is calling on the ECB and other official holders of Greek debt to write down their holdings, which would further reduce the country’s dent burden.

As part of the inevitable third bailout package, an ECB write-down is probably part of the plan. Doing so would then require the ECB to be recapitalized by the members of the Eurogroup…