First German bank writes down voluntarily Greek government bond investment

Discussion in 'Wall St. News' started by ASusilovic, Jun 1, 2011.


    Nord / LB breaks the taboo and called a debt-section for Greek bonds likely. The Institute has its consequences - and provides the real thing in front of for. Meike Schreiber and Rolf Lebert Frankfurt

    Nord / LB no longer believes that Greece comes around to a partial debt relief. "The Nord / LB Group's average debt keeps on Greek government debt and has likely taken during the reporting period for this provision," the country's third largest bank said on Tuesday in its report for the first quarter of 2011.