GDF is committed to providing full and accurate information on its debt purchase and cancellation activities. The "Total Value of Debt" as reported on our website represents the sum of two amounts and is applied to all securities currently held and cancelled. The first amount is the face value of bonds purchased, also known as the principal. The second amount is the interest due on the bonds for the period remaining from settlement date of the purchase and up to maturity. Since the bonds are cancelled or to be cancelled, no interest payments will have to be made, thus effectively reducing debt even further. The sum of these two amounts is reported by GDF as the total debt reduction achieved by its activities.
What We Are
GDF is a non-political, non-governmental and non-profit organization. GDF strives for full transparency and does not participate in the political process. GDF has no employees, is run by international volunteers and its operating expenses are negligible.
What We Do
The Greek national debt affects all of us in different ways. Understanding that Greek national debt is being bought and sold by financial speculators at prices lower than what Greece owes, is important.
Right now, the per capita debt burden for each Greek owes is about € 24,800 in national debt, but this amount is being bought and sold on the international market for about € 5,000.
How It Works
Greece Debt Free is a celebration of the Greek entrepreneurial spirit and the power of taking action toward ridding Greece of its national debt. Greece Debt Free is a platform for people to join our Product Campaigns, Connect and Contribute to affect positive economic change.
Debt Free People and Companies
At today’s reduced bond prices, it only costs about 4,500 euros to do the equivalent of eliminating the debt for a Greek citizen. Watch this space for more announcements and more Debt Free People and Companies.
Greece Debt Free (GDF) is a non-profit, non-governmental, non-political US organization, designed to help individuals and companies take action toward reducing Greek national debt to sustainable levels. We strive to be a transparent platform for a citizen led buy-back of Greek national debt. GDF empowers citizens, allowing all to participate in a democratic and collective solution to the crisis.
OUR EXPERTS CHOOSE THE NEWS
Olympiakos Football Club joins GDF!
On behalf of each of Olympiacos' 55 Greek players and employees, Mr Vangelis Marinakis, the owner of Olympiacos, Greece's leading football club, has donated bonds with a face value of €24,800 per person. GDF will hold these bonds and then cancel them, thus reducing Greek debt with a face value of €1,364,000 total. Olympiacos is now a leader for a debt free Greece.
