In a highly symbolic action, Mr. Evangelos Marinakis, repurchased Greek bonds worth €1.4 million, thus joining 33-year-old Peter Nomikos’s initiative for the creation of a nonprofit, nongovernmental, nonpolitical foundation called “Greece Debt Free” (GDF). With the buy-out of the debt that corresponds to 50 Olympiacos employees, among them, the native players of the Men’s team along with 5 of their family members, Mr. Evangelos Marinakis desires to actively participate in the effort made by visionary and friend, Peter Nomikos, to rid our country of the hideous and unbearable external debt.
This pioneering act is considered by Mr. Nomikos to be of great significance, as in one day’s time Greek debt has been reduced by €1.4 million, thanks to the donation made by the President of Olympiacos. It is worth noting that the club’s participation in this effort is of great value and is expected to serve as an example for all who want and are able to help reduce our debt. It will also be widely communicated through the thousands of Olympiacos supporters. The amount offered was €168,590 which buys back bonds with a nominal value of approximately €1.4 million.
“Through this act, I wanted to set an example so as to show that we should all contribute to our country during these difficult times. Greeks are patriots and it’s high time we show the world what we can do when working as one. Greece can and must go forth” said Mr. Mrinakis. “The crowd of Olympiacos supports this vital initiative to reduce the Greek debt and help secure the future of our country.”
The “Greece Debt Free” charity allows citizens and companies to contribute effectively in reducing our country’s debt. As mentioned on www.greecedebtfree.org our state debt is an object of trade in international markets at prices lower than its actual cost. At the moment, each Greek employee corresponds to approximately €24,800 of debt, but this amount can be redeemed with a current price of around €3,000. The GDF accepts donations for the purchase of Greek government bonds in international markets at prices much lower than the amount owed by the Greek state. As noted, the procedures of the GDF are fully transparent and operate in accordance to the laws of the State of Delaware. GDF is subject to the laws of the United States’ Charities, which exclude political influence, has no employees, is run by volunteers and concerned patriots, while operating costs are negligible.
