Greek debt plan ‘should be dropped’

ECB board member says plan to involve private sector in cutting Greece’s public debt should be shelved.

A member of the European Central Bank’s governing council has said that the policy of involving the private sector in cutting Greece’s huge public debt should be abandoned.

Athanasios Orphanides, the governor of Cyprus’s central bank, said that shelving the plan would be the only way to restore investor trust and prevent contagion continuing to spread across the eurozone.

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