ECONOMY

Tsakalotos: ECB-held bonds will be moved to ESM

tsakalotos-ecb-held-bonds-will-be-moved-to-esm

Greece will succeed in transferring bonds currently held by the European Central Bank to the European Stability Mechanism, the finance minister told parliament on Friday, a long-standing demand by Athens as it races to seal a bailout deal.

“What we asked for before, that Greek bonds held by the ECB .. should go to the ESM, will happen,” Finance Minister Euclid Tsakalotos said ahead of a vote by lawmakers on the latest proposals Greece has made to its creditors.

The leftist government of Alexis Tsipras is seeking parliamentary support for a package of reforms which will raise taxes and cut public spending in order to secure a cash-for-reforms deal that will allow Greece to remain in the eurozone.

[Reuters]