Greek Debt Restructuring Looks Inevitable

``As part of its measures to bolster Greece, the ECB bought up several billion euros worth of its sovereign debt. For that reason, it is one of Greece's creditors itself and would therefore also be affected by a Greek debt restructuring. The ensuing write-downs would noticeably reduce the ECB's profits -- something Trichet would like to avoid at all costs during his final year in office as the bank's president... [and] If Belgium and Spain really do run into financial trouble, it would present the other euro-zone countries with a whole new series of challenges. By then at that latest, EU finance ministers will have to deal with the issue of beefing up the rescue fund. Until now, they have been procrastinating on addressing the problem. ''