Bloomberg News

Greece Says to Continue Debt Swap Talks With Euro Group Support

January 23, 2012

Jan. 23 (Bloomberg) -- Greece will pursue talks on a debt swap with private creditors after euro-area countries lent their support to the effort, the Finance Ministry said in an e-mailed statement.

The goal of the negotiations is the “full implementation” of a late-October agreement among European leaders seeking to lower Greece’s debt to 120 percent of gross domestic product by 2020, the ministry said today.

A formal offer on the terms of the voluntary debt swap is due by Feb. 13, according to the ministry.

At a meeting of euro-area finance chiefs in Brussels today, discussions also addressed the sustainability of Greece’s debt, the ministry said.

To contact the reporter on this story: Jonathan Stearns in Brussels at jstearns2@bloomberg.net

To contact the editor responsible for this story: Patrick Henry at phenry8@bloomberg.net


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