Greece outlines debt 'menu' in bid to win over sceptical euro zone

February 3rd, 2015  
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Topic: Greece outlines debt 'menu' in bid to win over sceptical euro zone

By William James and Renee Maltezou LONDON/ATHENS (Reuters) - Greece's new government dropped calls for a write-off of its foreign debt and proposed ending a standoff with its official creditors by swapping the debt for growth-linked bonds on Monday, a week after its election on an anti-austerity platform. Finance Minister Yanis Varoufakis, in London to reassure private investors he is not seeking a Wild West-style showdown with Brussels over a new debt agreement, said the new left-wing government would spare privately held bonds from losses, a source told Reuters. The reported proposals, which included a pledge to reform the Greek economy, contrast sharply with the government's strident vows in Athens last week to ditch the tough austerity conditions imposed under its existing bailout. It was not clear, however, whether they would be accepted by European heavyweight Germany which opposes softening the terms.


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