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EU considers loans to Greece to buy back bonds

EU considers loans to Greece to buy back bonds

A spokesman for the European Union's executive Commission says lending Greece money to buy back its bonds on the open market is "one option" being discussed as eurozone governments seek to overhaul their (EURO)440 billion ($603 billion) bailout fund.
Greece's bonds are currently trading below face value, meaning the country could buy them back at a discount and cut its mounting debt pile.
Amadeu Altafaj-Tardio, spokesman for EU Monetary Affairs Commissioner Olli Rehn, said Friday that the Commission had raised that idea in an internal "working document" on improving the response to the debt crisis.
He stressed the document wasn't a proposal from the Commission, adding "It will be up to the member states to see to it that our response (to the crisis) is more effective in the future."


Updated : 2021-04-14 09:33 GMT+08:00