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Greece proposes restructuring of ECB, official sector debt -source
February 2, 2015 / 9:01 PM / 3 years ago

Greece proposes restructuring of ECB, official sector debt -source

LONDON, Feb 2 (Reuters) - Greek Finance Minister Yanis Varoufakis is proposing to swap government debt held by the European Central Bank and the official sector for growth-linked and perpetual bonds, sparing privately held bonds from losses, a source said on Monday.

“These bonds held by the ECB right now can be restructured. It’s possible to turn it into perpetual bonds to be serviced, or growth-linked debt,” said the source, who had direct knowledge of the plans but would not be named due to the sensitivity of the issue.

“It’s the same with a proportion of the other bilateral bonds held by the official sector.” (Reporting by William James; Editing by Hugh Lawson)

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