ECB: Non-voluntary Greek restructuring would be 'enormous mistake'

The European Central Bank chief on Thursday warned against any non-voluntary restructuring of Greek debt, rebuffing the German position in favour of such a move.

"We would say it's an enormous mistake to embark on decisions that would trigger a credit event," Jean-Claude Trichet told reporters in Frankfurt.

He said that the bank would oppose "concepts which would not be purely voluntary," wording that suggests the ECB could accept a rollover of debts agreed between the Greek state...