Eurogroup Wants To Avoid Another Haircut On Greek Debt: Press

Browse >
Home / All, Mkt News / Eurogroup Wants To Avoid Another Haircut On Greek Debt: Press

BERLIN (MNI) ? Eurozone finance ministers want to avoid another
haircut on Greek debt through a bundle of financing measures, the German
weekly Der Spiegel reported over the weekend, citing no sources.

According to the magazine, the Eurogroup plans to lower the
interest rate on the loans granted to Greece. Moreover, the European
Central Bank will accept Greek short-term debt as collateral longer than
planned, Der Spiegel wrote.

The ECB and national central banks will also distribute to Greece
the profits they will make on the Greek bonds they bought on secondary
markets, the magazine claimed.

Greek state assets are to be securitized with the state assets
themselves serving as collateral, Der Spiegel said. Greek banks are to
get direct recapitalisation from Europe?s permanent bailout fund, the
European Stability Mechanism. The ESM is also to provide funds to Greece
to buy back its debt on secondary markets, the magazine wrote.

?Berlin bureau: +49-30-22 62 05 80; email: twidder@mni-news.com

[TOPICS: M$X$$$,MGX$$$,M$$CR$,M$G$$$,M$Y$$$,MT$$$$]

Source: http://feedproxy.google.com/~r/forexlive-rss/~3/H_xLrDhFsjA/

Prince Harry Vegas powerball Melky Cabrera Mayim Bialik Rich Kids of Instagram felix hernandez Ron Palillo