Belgian finance minister: Greek rollover idea still valid

A bank tax could be part of a solution in a new financing package for Greece but talks include other elements, like the initial idea of a Greek debt rollover by banks, Belgian Finance Minister Didier Reynders said.
Euro zone officials have grouped possible options for a second Greek bailout into three basic scenarios, according to a document from July 16, obtained by Reuters.
Reynders told the Belgian Le Soir daily in an interview, however, that the talks were about a mixture of steps, rather than three clear-cut options.
"These are not strictly speaking options. We are looking towards a mixture of these diverse measures. The banking tax could could be part of the solution, but it is not easy to put into practice," Reynders was quoted as saying.
Reynders said that the idea of private investors rolling over their holding of maturing Greek paper was still valid, but some issues still needed to be resolved.
"Overall the idea of a 'roll over' remains valid: we would ask the private sector to reinvest in new bonds with a longer maturity," Reynders said.
Some of the options under consideration are likely to involve a downgrade of Greek debt to a default or selective default, and euro zone officials were working on ways to solve the problems this might cause for the ECB, Reynders said.
"If there is the risk of a partial default we need to find solutions to resolve the problems that could pose, in particular at the European Central Bank," he said.