The euro zone's rescue fund, Greece's largest creditor, said on Friday it reserved the right to call in 130.9 billion euros in debt ahead of schedule after Athens defaulted this week on an International Monetary Fund loan. The board of the European Financial Stability Facility decided to reserve its rights to act at a later stage on the outstanding loans to Greece, an EFSF statement said. The EFSF's chief executive, Klaus Regling, made the recommendation rather than the two other options - waiving the debt or demanding immediate repayment, which would have forced euro zone governments to take large losses.
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