European Central Bank President Jean-Claude Trichet refused direct participation of the ECB in the second bailout Greece, increasing clashes with the government as they rush in creating solutions that involve investors.

As politicians try to find a plan until June 24 which will share in the cost of new rescue with bondholders, ECB's Trichet yesterday ruled out, based in Frankfurt to make an example with their own assets. While the state banks could accept a plan where the investor voluntarily agrees to buy Greek bonds to replace maturing debt, Trichet said the ECB has no intention of rolling over the ownership of the Greek itself.

ECB sustainable resistance can cause politicians to face the prospect of asking their taxpayers to fund the Greek budget deficit that may be of € 90 billion ($ 130 billion) through 2014. Trichet also warned against the approach suggested by German Finance Minister Wolfgang Schaeuble that will push investors to accept longer maturities in their Greek bonds, said any solution that forces the involvement of the private sector can lead to "credit problems" and would be "a fatal problem" for the euro area.