The European Central Bank is considering a plan to give back almost 9 billion euros ($11.52 billion) to Greece from the profits it makes through its holdings of Greek bonds as part of a scheme by international lenders to reduce the country’s debt-to-GDP ratio to 120% by 2020 from nearly 180 percent now, which would let Greek return to international markets.
According to Reuters, the Ministry of Finance is preparing to buy Greek yield bonds in the secondary market. If Eurozone finance ministers agree, this will happen in 2013. Greece would gain 10 billion euros ($12.3 billion) by postponing the date of payments for certain yield bonds and lowering their interest rates.
According to the same source, it is under dispute whether Greece should buy again the same yield bonds or not. The reason is that prices are getting higher as Greece tries to avoid bankruptcy.
(Source: tvxs.gr)
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