Greece insolvency risk ‘increasing by day’, says Bundesbank chief

The risk of Greece becoming insolvent is “increasing by the day,” the head of the German central bank or Bundesbank, Jens Weidmann, said on Thursday.

“There is a strong determination to help Greece … But time is running out, and the risk of insolvency is increasing by the day,” Weidmann told a London investment seminar as Greece and its European partners intensify efforts for a bailout deal to prevent Athens from defaulting.