Bloomberg News

Venizelos Says Debt Swap Deal Is ’Turning Point,’ CNBC Reports

March 12, 2012

Greek Finance Minister Evangelos Venizelos told CNBC the completion of a debt swap was a “new starting point” for Greece and the triggering of credit default swaps was a technicality that will not affect the country’s economy.

“The credit event and triggering of the CDS is something internal,” Venizelos said in an interview. “This is a kind of dealing room between banks and financial entities. It’s not something important for us as a real economy.”

Venizelos also said the country will not require a third bailout package.

To contact the reporter on this story: Tom Stoukas in Athens at

To contact the editor responsible for this story: Andrew Rummer at

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