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Private banks to write off Greece’s debts
17.02.2012 15:27 "Agro Perspectiva" (Kyiv) —
On February 22, private banks will stat writing off Greece’s debts. This procedure will last one week.
This has been announced by the UK Bloomberg TV channel.
In total, Greece’s debts to private banks make ? 200 bln. A part of this sum will be written off, and the remaining bonds will be changed for new ones, with a longer term of redemption.
This will help Greece to amortize bonds for the sum of ? 14.5 before the initially established date of March 20, and thus escape a default.
It is expected that on February 20, finance ministers of the eurozone will adopt another, the second one, program for helping Greece out of the crisis.
This program will envision allocating ? 130 bln to Greece. But Greece will get them in exchange for tough cuts of its budget.
A package of budget cuts, including wages’ and salaries’ cuts, as well as mass dismissals, has already been adopted by the Greek government. This caused rallies of protest and even pogroms. Source: ITAR-TASS.
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