Juncker claims misunderstanding over size of Greek haircut

A spokesman for the Luxembourg government on Tuesday afternoon refuted earlier reports that the country?s Prime Minister and Eurogroup Chairman Jean-Cluade Juncker had suggested on Monday night that a haircut to Greek debt may exceed 60 percent, Bloomberg reported.

Juncker, who was speaking on ORF Austrian television, instead meant that haircuts could exceed the 21 percent already agreed in July, Guy Schuller told Bloomberg, adding that Juncker only said ?we?re talking about even more? when asked to respond to speculation that investors may have to take greater losses.

Juncker had been quoted as saying that more than 60 percent of Greece?s debt may need to be restructured.