German sources: ECB would OK selective Greek default

BERLIN/FRANKFURT, July 21 (Reuters) - The European Central Bank would accept a selective default for Greece as part of the resolution of the country's debt woes, sources in the German government and financial sector said on Thursday.

A selective default would occur if for example the current euro zone bailout mechanism -- the so-called European Financial Stability Facility -- were used as part of the funding for a buyback of Greek bonds, the sources added. (Reporting by Andreas Rinke and Andreas Framke; writing by Brian Rohan)