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Last updated: February 19. 2013 8:00PM - 105 Views

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(AP) Greek prime minister says pension funds won't be part of the country's bond buyback scheme, designed to shave nearly 30 billion ($39 billion) off the country's debt.


In an interview with the Sunday edition of Ethnos newspaper, Antonis Samaras says Greek banks will benefit from the transaction, because the book value of the bonds they hold is really low.


Greek bank stocks have been hit over the past week after it became clear that the buyback scheme was a precondition for the release of nearly 44 billion ($57 billion) in bailout aid from Greece's creditors.


Samaras says buying back the holdings of Greece's pension funds was never in play because this would not reduce Greece's debt.


Associated Press
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