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Greek finmin proposes swapping outstanding debt for growth-linked bonds - FT
February 2, 2015 / 7:52 PM / 3 years ago

Greek finmin proposes swapping outstanding debt for growth-linked bonds - FT

LONDON, Feb 2 (Reuters) - Greece has proposed ending a standoff with its international creditors by swapping its outstanding debt for new growth-linked bonds, the new finance minister, Yanis Varoufakis, told the Financial Times in an interview.

Varoufakis also told the FT that Athens would no longer call for a write-off of Greece’s 315 billion euros of foreign debt.

Instead it will seek a “menu of debt swaps” including two types of new bonds - one indexed to nominal economic growth and one he called “perpetual bonds” to replace European Central Bank-owned Greek bonds, the FT reported. (Writing by Hugh Lawson)

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