Greek debt write-off 'not enough'

It may be necessary to write off some of Greece’s debt, but that it is not an overall solution to the country’s economic problems, the head of Germany’s central bank has said.

Bundesbank President Jens Weidmann told Bild newspaper that the need for a Greek “haircut” – in which the country’s government pays back less than what it owes to bondholders – could not be ruled out.