German Banks Could Face Up to 60% Loss on Greek Debt

According to various sources, German banks could face as much as 60 percent loss on their Greek government debt holdings. The country’s banks held a conference call this week and participants discussed the potential for losses on Greek bonds of between 50 percent and 60 percent, though no final figure has been set. Deutsche Bank AG Chief Executive Officer Josef Ackermann is planning to go to Brussels next week to discuss the potential for a … [Read more...]