Looks like the govt is reducing the amount of euro they owe themselves,

But not reducing the liabilities those govt pension funds and other agencies owe others?

Greece to Restructure Debts of Pension Funds, Isotimia Reports

By Marcus Bensasson

January 17 (Bloomberg) — Greece’s Finance Ministry is planning to restructure debts of 30 billion euros ($39.9 billion) held by social security funds and state-run enterprises, Isotima said in a report, without saying where it got the information.

The government will replace existing debts with medium and long-term bonds with lower rates of interest than market rates, the Athens-based weekly newspaper reported yesterday.