ECB talk

FRANKFURT -(Dow Jones)- The European Central Bank's vice president Friday reiterated that the ECB wouldn't necessarily rule out all plans to extend the maturities on Greek bonds as part of additional aid measures for the country.

But he said finding a solution to Greece's debt problems lies in the hands of national governments and their treasuries.

Vitor Constancio said that any orderly haircut on Greek debt would be "very dangerous." Constancio said the private sector could contribute to the solution for Greece, but he stopped short of explaining how private parties could participate.

"There are many forms of private sector involvement," Constancio told reporters.It wasn't the ECB in the first place which called for private sector participation as part of new measures for Greece, Constancio said.

The ECB has in recent weeks defended its hardline stance against restructuring Greek debt--a move the German government favors by swapping existing Greek debt for new bonds with longer maturities.

Constancio added that central banks should in some cases intervene to maintain financial market stability, a task which isn't at odds with the ECB's core mandate of maintaining price stability.

Likewise, the European Systemic Risk Board, an independent European Union institution responsible for macro-prudential oversight of the financial system, should be given more powers to intervene in financial markets, Constancio said.

Constancio also said the ECB hadn't restarted its bond buying program.