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Trichet urges avoidance of Greece debt default

Trichet urges avoidance of Greece debt default (by Polya Lesova)

LONDON (MarketWatch) -- European Central Bank President Jean-Claude Trichet said Thursday that he doesn't approve of any credit event or any selective default by Greece. "We are not in favour of restructuring, haircuts and so forth," Trichet said at a news conference. "We exclude all concepts which would not be purely voluntary. We call for avoiding any credit event and selective default. And that is our position which we have made clear."

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Trichet urges avoidance of Greece debt default