Greek debt buy-back will not apply to Greece's pension funds - PM

ATHENS Sat Dec 1, 2012 12:21pm EST

ATHENS Dec 1 (Reuters) - Greek pension funds will not take part in a debt buy-back that is a key part of the country's international bailout, Greek Prime Minister Antonis Samaras said in a newspaper interview.

"The debt buy-back does not concern the pension funds," Samaras was quoted as saying in an interview with Sunday's Proto Thema newspaper.

Greek pension funds hold more than 8 billion euros out of a total 63 billion euros of Greek bonds held by private intestors.

Greece must conduct the deal by Dec. 13, before it receives more than 30 billion euros in withheld bailout payments from the euro zone and the International Monetary Fund.

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Comments (1)
Various Greek groups, e.g. Journalists, Teachers, Police–all need a private/secret separate optional investment “club” where independent groups pool their on money into a group fund that is producing results. They can vote if they want bonds, gold, etc. in their fund. Looks like the former government replaced pension funds with Greek bonds. With the new government, just create new funds where only authorized individuals can add new funds, various healthy financial instruments. Go outside of Greece and hire an expert financial team to help.

Dec 01, 2012 3:10pm EST  --  Report as abuse
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