One of the cornerstones of SYRIZA’s election campaign was that they would demand that Greece lenders (the infamous TROIKA comprising the EU, International Monetary Fund and European Central Bank) would write-off  Greece’s debt (or perform a “hair-cut” depending on which party representative you ask) .  Upon being asked for a PLAN B regarding the unlikelihood that the creditors declined to write-off, SYRIZA declared that they would “insist” on PLAN A.

SYRIZA now is  the prime member of the Greek coalition government, and the newly appointed Minister of Finance, Yanis Varoufakis, has started a round of one-on-one meetings with decision makers such as the EUROGROUP’s president  Jeroen Dijsselbloem and Ministers of Finance of France and the United Kingdom.

Outcome: On February 2, following his meeting with UK’s Chancellor of the Exchequer George Osborne, Mr. Varoufakis told the Financial Times that the government would no longer call for a headline write-off of Greece’s €315bn foreign debt. Rather it would request a “menu of debt swaps” to ease the burden, including two types of new bonds. The first type, indexed to nominal economic growth, would replace European rescue loans, and the second, which he termed “perpetual bonds”, would replace European Central Bank-owned Greek bonds.

Source: http://www.ft.com/intl/cms/s/0/7af4252c-ab03-11e4-91d2-00144feab7de.html#axzz3Qg8PIBum 

Whether this turn of course qualifies for a KOLOTOUMBA remains to be seen.  The Greek Government’s Press Secretary Sakelaridis stated, only hours after Mr. Varoufakis’ interview, the following:

“There is no turn of course nor a kolotoumba. Are you concerned with the words used to describe the write-off or the actual result? We stay  focused on the fact that our debt must remain sustainable”

Sources: http://www.skai.gr/news/politics/article/274610/sakellaridis-ston-skai-kamia-kolotouba-gia-to-hreos/, http://www.protothema.gr/politics/article/448168/sakellaridis-kamia-kolotouba-gia-to-hreos/