The single currency plunged as Bloomberg published a report claiming the Greek government is planning a radical restructure of its huge £26.2bn debt pile the management of which nearly led to Greece’s exit from the EU in 2014.
Two senior bankers – who did not wish to named – have said Greece is planning to reissue government bonds to the value of nearly £26.2bn in an attempt to help market traders to buy and sell Greek debt.
As many as 20 bonds that were issued after a debt restructuring in 2012 could be replaced with five new fixed-coupon bonds as soon as mid-November.
Athens hopes the swap will help it to tap markets for enough funds to refinance its debt payments to the International Monetary Fund and European Central Bank in 2019 whi…
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