Bloomberg News

Bank of Greece Faces Debt-Swap Lawsuit, Kathimerini Reports

June 14, 2012

Two Greek industry bodies took legal action against the Bank of Greece on the ground that it mismanaged their financial assets, Kathimerini reported, without saying how it got the information.

The Athens Chamber of Commerce and Industry and the Athens Chamber of Tradesmen said they weren’t consulted on the central bank’s decision to invest part of their cash reserves in Greek government bonds, which were subsequently tendered into the country’s sovereign debt swap, the newspaper reported.

To contact the reporter on this story: Marcus Bensasson in Athens at

To contact the editor responsible for this story: Craig Stirling at

Cash Is for Losers
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