European Central Bank president Jean-Claude Trichet has reiterated his opposition to any Greek debt restructuring, warning euro zone governments that the bank would not accept defaulted government bonds as normal eligible collateral if a country defaulted.

In an interview with Financial Times Deutschland published today, Mr Trichet said euro zone governments would be forced to come up with ways to "put things right".

"If a country defaults, we will no longer be able to accept its defaulted government bonds as normal eligible collateral," he told the newspaper.

"The governments would then have to step in themselves to put things right ... the governments would have to take care the euro system is presented with collateral that it could accept."

Meanwhile, Bundesbank president Jens Weidmann said introducing common euro-region bonds, or eurobonds, would undermine the incentives for Greece's government to enforce fiscal discipline.

"Nothing would destroy the incentives for a solid fiscal policy more rapidly and more permanently than joint liability for the state's debt," German newspaper Bild-Zeitung quoted Mr Weidmann as saying.

"The result will be that European and especially German taxpayers have to answer for the entire Greek state liabilities. It would be a step toward a transfer union, which Germany has until now rejected for good reasons."

Mr Weidmann added that cutting Greece's debt wouldn't help as long as the country runs a budget deficit, Bild-Zeitung said.

Additional reporting: Bloomberg