Jens Weidmann, the president of the Bundesbank, on Friday said a reprofiling of Greece's bonds would make it impossible to accept the debt as collateral for refinancing operations at the European Central Bank (ECB).

At the Banque de France and Deutsche Bundesbank Spring Conference, in Hamburg, Germany, Weidmann said a reprofiling of Greek bond maturities cannot "substitute" for fulfilling the adjustment programme. "A prolongation of Greek government bonds in an environment of prevailing strong