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Europe Daily Bulletin No. 10765
ECONOMY - FINANCE - BUSINESS / (ae) greece

Stournaras says new bond writedown possible

Brussels, 16/01/2013 (Agence Europe) - Speaking on Greek television (NET TV), the Greek finance minister, Yannis Stournaras, said that another bond writedown was possible as long as Greece returned to a primary budget surplus, but this would not be known until the end of 2013. “Another [restructuring] would be welcome. We will not say no to another haircut”, he commented, adding that such a decision was not for Athens alone. Stournaras said the IMF agreed to another writedown during the debt sustainability talks in November 2012 (see EUROPE 10739). The eurozone did not go along with the idea, prefering a bond buyback from private lenders. The IMF will be meeting on Wednesday to discuss Greece and decide whether to pay out a tranche of aid of some €3.3 billion. Stournaras said that the new tax rises voted in last Friday and the ratification of the last “priority actions” on Monday paved the way for payment of the next sub-tranche of aid from the eurozone, some €9.2 billon in total. (EL/transl.fl)

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