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]