MW: Germany preps support if Greece defaults: report
By David B. Wilkerson
CHICAGO (MarketWatch) -- The German government may re-introduce a fund to recapitalize its banks if Greece defaults on the terms of the loans it received, according to a Bloomberg report that cited three unnamed sources close to the situation. German banks face as much as a 50% loss on Greek bonds if Greece does default, Bloomberg reported. Germany is worried that the debt dilemma will worsen because Greece has been unable to meet its obligations to cut its national budget, the news agency said.
