DAVID JOLLY and LIZ ALDERMAN
The New York Times
July 5, 2011
PARIS — European bankers and officials said Tuesday that they had not given up on their effort to help sort out Greece’s finances, a day after a major ratings agency said it would consider Greece to be in default if the plan were implemented.
“We’re continuing to work for a possible solution,” Michel Pebereau, chairman of BNP Paribas, the biggest French bank, said at the Paris Europlace conference, a gathering attended by hundreds of international bankers. Both the French and German banks have put proposals forward, he said, and “If those doesn’t work out, we’ll come up with something else.”
Several other bankers said the important thing was that banks had begun to work together to solve the crisis, and the fact that the stakes were so big meant they would find a way forward.
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