Greece, Banks Confer on Reorganizing Private Debt, Imerisia Says

Greece’s finance ministry is consulting the country’s banks about introducing legislation for reorganizing private household debt, Imerisia reported, without saying how it got the information.

A draft bill envisages restructuring between 22.5 billion euros ($30 billion) and 34 billion euros of private debt for people whose income fell significantly in 2011, the Athens-based newspaper said.

To contact the reporter on this story: Marcus Bensasson in Athens at mbensasson@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.