Greece proposes restructuring of ECB, official sector debt: Report

Greek Finance Minister Yanis Varoufakis is proposing to swap government debt held by the European Central Bank and the official sector for growth-linked and perpetual bonds, sparing privately held bonds from losses, a source said on Monday. Varoufakis and Prime Minister Alexis Tsipras are touring European capitals this week in a diplomatic offensive to replace Greece's bailout accord with the European Union, the European Central Bank and the International Monetary Fund. "These bonds held by the ECB right now can be restructured. It's possible to turn it into perpetual bonds to be serviced, or growth-linked debt," said the source, who had direct knowledge of the plans but would not be named due to the sensitivity of the issue.



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