The European Central Bank President, Jean-Claude Trichet told BBC that write-down on Greek bonds should not be repeated for any euro-area nation and Greece must be seen as a special case.
Trichet said in an interview published on the BBC's website it is the responsibility of individual countries to fully be consistent with what they said, namely that Greece was Greece, everybody recognizes that is a special case. And added but for all other countries, signature will be honored. That is essential.
Last week, European leaders were able to provide a comprehensive plan to support the euro-area and to overcome the debt crisis, where leaders agreed on a 50% haircut of Greek debt.
Trichet said that it is normal for euro-area to look to China for aid, where he said that we are all on the global market, we are all intertwined, he said. It's a normal way of dealing.
The President explained that the European Central Bank avert mistakes in handling the debt crisis; however he blamed governments and investors for errors and mistakes.