Asmussen: ECB won't take part in Greek restructure

MADRID (MarketWatch)
European Central Bank executive board member Joerg Asmussen said the central bank won't take part in any potential debt restructuring of Greece, in an interview with a German newspaper Die Welt that published Wednesday
"The possibility of additional external financing needs can only be closed by the member states of the euro zone," said Asmussen, in translated comments of the interview
 "The ECB would not be able to take part in any restructuring because this would constitute state financing, which is forbidden."
Ishaq Siddiqi, market strategist at ETX Capital, said in a note that the comments raise concerns Greece will "continue to burn bailout money until it heads for a default."