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Finance Minister: Bond Swap Proposal Expected In Late September

Finance Minister Evangelos Venizelos expects the proposals for the bond swaps including private participation to be completed in late September, he said in an interview with Greek radio station Real FM.
He reiterated his optimism about the implementation of the PSI and admitted that the extension of maturity of Greek bonds beyond 2020 is under examination.
According to sources, there is a proposal for the extension to 2024 with an increase of the amount.
Regarding taxes, he didn’t rule out a new change in VAT rates, if a simple mechanism in the collection of the taxes is agreed first.
Venizelos, also vice-president of the government, admitted the injustice of the increase of VAT from 13% to 23% for food, water, soft drinks etc, but stated that it is a necessary measure in the fiscal adjustment effort.
(source: capital)

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