Translation of "échange de dettes " (French → English) :

72. Asks the Troika to proceed to new debt sustainability assessments and, as a matter of urgency, to address the need to reduce the Greek public debt burden as well as the severe capital outflows from Greece, which are contributing significantly to the vicious circle characterising the current economic depression in the country; recalls that a number of possibilities exist for a debt restructuring, besides a haircut on bond principals, including bond swapping, extending bond maturities and reducing coupons; believes the different possibilities for debt restructuring should be carefully weighed;

5. Supports all citizen-led debt audits with a view to the identification and unconditional cancellation of all odious and illegitimate debt; rejects, to this end, all debt swaps or conversions used to launder such funds; takes the view that governments should also ask their creditors to account for their illicit actions, and demand reparations for the damage caused; urges all governments in both the South and the North to engage in such debt auditing, as was done by Norway and Ecuador in 2006;

1. For the purposes of this Regulation, a natural or legal person shall be considered to have an uncovered position in a credit default swap relating to an obligation of a Member State or the Union, to the extent that the credit default swap is not serving to hedge against the risk of default of the issuer where the natural or legal person has a long position in the sovereign debt of that issuer or any long position in the debt of an issuer for which the price of its debt has a high correlation with the price of the obligation of a Member State or the Union.

For that to happen, we need to harness all of our resources by increasing official development assistance (ODA) and the resources allocated to the tenth EDF and by obtaining the support of innovative partners in the public and private sector or of operations designed to exchange debts for investment.

16. Insists that the debate on debt relief should include Least Developed Countries and should cover debt swaps, and that debt relief should only be undertaken on the condition that money gained by governments from such relief must be channelled towards helping the poorest in their communities; calls, in this regard, on the EU and its Member States as well as international financial institutions to act upon this debate on the debt of those countries affected by the tsunami and write off the debt of these countries altogether as long as the aforementioned conditions are satisfied; calls, furthermore, for the EU countries to spearhead cu ...[+++]tting the debt of all the world's poorest nations;

We have done a debt-for-environment swap in Latin America.