Brussels, 26/10/2011 (Agence Europe) - Arriving at the second series of European summits on Wednesday 26 October with a strict negotiating mandate from the German parliament, the Bundestag, German Chancellor Angela Merkel said that optimising the European bailout fund, the EFSF, will not involve European Central Bank cash and private investors will have to accept a substantial write-down in their Greek bond portfolios as their contribution to the second Greek bailout.
Merkel recommended the...