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Greek finance minister: ECB-held bonds will be moved to ESM

[ATHENS] 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 euro zone.


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