Greece: Varoufakis, proposed swap with funding to 30 years – AGI – Agenzia Journalistic Italy

Economy

19:39 June 13, 2015

(AGI) – Athens, June 13 – A swap with new funding provided by the ESM to 30 years to repay 27 billion of Greek government bonds held by the ECB. And ‘the proposal made by the Minister of Finance greek Yanis Varoufakis creditors to Athens. In an interview with the newspaper Realnews greek, Finance Minister explained that the ESM (European stability mechanism, the so-called bailout fund were) should offer Greece a new loan with a maturity of thirty years in which Athens could return the 27 billion euro government bonds currently held by the ECB. This would allow Greece to fully repay the ECB debt maturing in July and August amounted to 6.7 billion and extend the payment of the rest of the debt. According Varoufakis “thirty years of the loan should be done by the ESM at a low interest (1.5%).” These payments are the most ‘urgent along with the 1.6 billion that Athens has to the IMF by the end of June.
(AGI).

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