German banks will contribute to second Greek bailout fund

Описание: (30 Jun 2011)
1. News conference with German Finance Minister Wolfgang Schaueble and CEO of Deutsche Bank Josef Ackermann
2. Cutaway of media
3. SOUNDBITE: (German) Wolfgang Schaeuble, German Finance Minister:
"I am glad that the representatives of the German finance industry have said they are prepared to participate in a second aid programme for Greece."
4. Mid of news conference
5. SOUNDBITE: (German) Wolfgang Schaeuble, German Finance Minister:
"The banks are prepared, within the framework of a concept that has yet to be worked out in detail, to make available again for financing Greece some 2 billion euros invested in bonds that expire by 2014."
6. Cutaway of media
7. SOUNDBITE: (German) Josef Ackermann, CEO of Deutsche Bank:
"We have said from the beginning that we see our responsibility and we worked intensively together the past weeks and day's with other European banks."
8. Wide of news conference
9. SOUNDBITE: (German) Josef Ackermann, CEO of Deutsche Bank:
"We are taking the French basis as a model, but building in modifications. We are hopeful to find a satisfying solution for all parties involved."
10. Cutaway of media
11. Side shot of Schaueble and Ackermann
12. Ackermann leaving
STORYLINE:
German Finance Minister Wolfgang Schaeuble said that the country's banks have told him they are prepared to contribute to the Greek bailout.
The comments came after Schaeuble held closed-door talks with representatives of Germany's banks.
Details are yet to be finalised, but Deutsche Bank CEO Josef Ackermann says a French plan will serve as a "basis".
"The banks are prepared, within the framework of a concept that has yet to be worked out in detail, to make available again for financing Greece some 2 (b) billion euros (2.9 (b) billion US dollars) invested in bonds that expire by 2014."
French President Nicolas Sarkozy said on Monday that French banks are ready to help Greece by accepting a significant debt rollover. He says the plan would see banks reinvest their Greek debt holdings over 30 years.
French banks, with some 15 (b) billion euros (21 (b) billion US dollars), and German banks, with 16 (b) billion euros (22 (b) billion US dollars), are among the biggest holders of Greek sovereign debt according to the Bank of International Settlements.

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