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Greek lenders mull ECB foregoing profits to cut debt
November 23, 2012 / 10:38 AM / 5 years ago

Greek lenders mull ECB foregoing profits to cut debt

ATHENS (Reuters) - Greece’s foreign lenders are considering having the European Central Bank forego 9 billion euros of profits on its Greek debt as part of options to make the country’s debt sustainable, a Greek finance ministry source said on Friday.

The lenders are also mulling cutting the interest rate and extending maturities on loans as well as a 10 billion euro debt buyback by the government, the source told Reuters.

The country’s finance ministry has already begun preparations for the debt buyback, which could be completed by the end of the year if euro zone finance ministers approve the move, the source said.

Reporting by Lefteris Papadimas

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