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Greek shipping heir to help Greek debt

Greek shipping heir Peter Nomikos aims to tap the Greek diaspora to help reduce the Greek national debt with a US-based non-for-profit organization "Greece Debt Free"

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Greek shipping heir to help Greek debt

Peter Nomikos.

6 Jul 2012

Greek shipping heir Peter Nomikos aims to tap the Greek diaspora to help reduce the Greek national debt with a US-based non-for-profit organization "Greece Debt Free".
Asking Greeks from around the world, Nomikos is looking to buy up Greek debt or cancel it with the help of donations.
"As Greek debt is changing hands well below its face value… bonds can be bought for about 3,000 euros," he told Der Spiegel.
"The plan is to collect donations to buy up as much debt as possible while the price remains low."
Owner of the Greek football club Olympiakos, Vangelis Marinakis, has been the first to contribute. He has put in just over $3000 from each of the clubs 55 employees. He told Wall Street Journal that "anything is worth trying".
The source of some donations may be unexpected: the Facebook page for Greece Debt Free says more than 30 percent of donations so far are from Germany.

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