5 Jun 2015
Greek leaked new proposals unlikely to be accepted
FXStreet (Edinburgh) - According to a new proposal, Greek authorities expect to cut its debt to 93% by 2020 from the current astronomic 180%, and to 60% by 2030.
The plan aims to pay Greece’s main public-sector creditors: to repay the ECB, the ESM would lend Greece near €30 billions, oriented to pay off ECB bonds. The country could make an early repayment to the IMF, roughly half of the debt, by using aprox. €9 billion in profits from ECB bond holdings. In addition, and when the current bailout is completed, Greek officials intend to divide the EFSF loans by two: one half restructured in a loan at 5% interest and the rest written off.
The plan aims to pay Greece’s main public-sector creditors: to repay the ECB, the ESM would lend Greece near €30 billions, oriented to pay off ECB bonds. The country could make an early repayment to the IMF, roughly half of the debt, by using aprox. €9 billion in profits from ECB bond holdings. In addition, and when the current bailout is completed, Greek officials intend to divide the EFSF loans by two: one half restructured in a loan at 5% interest and the rest written off.