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GreekReporter.comGreek NewsNon-Profit Group Saves Greece Multi-million USD of Debts

Non-Profit Group Saves Greece Multi-million USD of Debts

Greece Debt Free

The Greek government accepted a donation of 2.3 million euros (3.1 million U.S. dollars) worth of state bonds acquired by a non-profit group, the Finance Ministry said.

The Deputy Minister of Finance, Mr. Christos Staikouras proceeded to canceling the bonds, by deleting them, indeed, of the total public debt.

“We thank the non-profit organization Greece Debt Free for the strong symbolic initiative, such initiatives designate the enduring power of Hellenism.” the Finance Ministry said in a statement.

Greece Debt Free, is two organizations, but one movement. Greece Debt Free Inc. (USA) is a 501(c)(3) non-profit while it also operates a Greek non-profit.

Both organizations have similar goals, ethics, and work solely to the benefit of the Greek people. Both GDF entities are non-profit, non-governmental and non-political organizations, designed to help individuals and companies take action toward reducing Greek national debt to sustainable levels.

The movement that aims to reduce Greece’s national debt to sustainable levels by buying Greek bonds was founded in 2011 by Greeks living abroad.

Greece Debt Free had submitted to Athens the first set of bonds for cancellation in September 2013.

Peter Nomikos, founder of the organization which encourages companies and individuals worldwide to contribute to the effort to buy and cancel Greek debt, sees the platform as a model for more future initiatives to help Greece.

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