Greek Shipping Heir Launches New Project to Save Country from Debt

Greek shipping heir Peter Nomikos has launched a new project entitled “Greece Debt Free” aiming at paying off the country’s debt.Nomikos started the non-governmental, non-political and non-profit campaign to help the Greek economy back on its feet with the contribution of all Greeks and friends.

GDF was sparked by the understanding that the Greek national debt was being bought and sold by financial speculators at prices much lower than what the Greeks owed.  Right now each Greek owes about € 24,800 in national debt, but this is being bought and sold on the international market for about € 3,000.

GDF accepts donations for the purpose of buying Greek government bonds in international markets at prices much lower than the amount owed by the Greek government. GDF will then help reduce the debt through the cancellation of these bonds.

GDF also allows people to vote online and choose to carry the GDF logo and contribute 50% of the value of their profits to reduce the Greek national debt in the same way.

Already, Vangelis Marinakis, the owner of Olympiacos, Greece’s leading football club, has donated bonds valued at € 24,800 for the 55 Greek players and employees of the FC, while Volkan Beer, produced in the Greek island of Santorini, is the first GDF certified product.

GDF operates under the laws of the State of Delaware. It is subject to U.S. Charitable Foundation laws, which exclude it from political influence. It has no employees, is run entirely by volunteers and concerned patriots, and its operating expenses are negligible.

Nomikos told Spiegel Online that he hopes the Diaspora Greeks will respond to the fundraising call.

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(With info from