Dutch bank ABN refuses to forgive Greek rail debt

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Dutch bank ABN refuses to forgive Greek rail debt

The Associated Press

AMSTERDAM (AP) — ABN Amro, the Dutch bank, has refused to restructure €1.3 billion ($1.7 billion) in debts it is owed by Greece's Hellenic Railway Organization and Athens' metro, a spokesman for the bank said Wednesday.

Spokesman Arien Bikker said the debts, a mix of private corporate bonds and bank loans, were part of Greek's government bond restructuring program announced Feb. 24, but the company was caught off guard that these debts were included — they were issued by the transportation companies, with government guarantees.

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April 18, 2012

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2 readers comments


1. Nicholas Kostopoulos wrote on April 18, 2012 3:43 PM	If you don't restructure the debt, Greece shouldn't pay them at all. Everyone else has restructured Greece's debt (no matter if Greece is at fault for over borrowing) if you don't you don't get paid. Also Greece should slowly leave the EU, it has been a bust for Greece.

2. Philip Vorgias wrote on April 18, 2012 10:18 PM	Leaving the EU would be a bigger bust. The EURO isn't the problem, Greek politicians are the problem. Until people recognize that it's going to be more of the same in Greece, whichever direction they go.
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