Greece may not opt for debt swap

Greek authorities on Friday threatened to abandon plans for a debt swap with private creditors unless 90% of the eligible bonds were included in the programme to reduce its outstanding debt.

On July 21, eurozone leaders agreed to a second bail-out package for Greece worth €109 billion ($155 billion) that included the use of voluntary private-sector participation in a debt swap that would extend maturities on existing debt. Banks and other private investors are expected to contribute €135 billion