Greece expects bondholders to accept a one-time offer to write off about 100 billion euros ($140 billion) of Greek debt and is ready to force them to participate if necessary, Finance Minister Evangelos Venizelos said.

"This is the best offer," Venizelos said in a Bloomberg Television interview with Nicole Itano in Athens today. "This is the best offer because this is the only one, the only existing offer."

European leaders are facing the first test of their attempt to turn the page on the two-year debt crisis as Greece's private creditors decide whether to sign off on the biggest sovereign-debt restructuring in history. The success of the 106 billion-euro swap, confirmed on the eve of last week's European summit, depends on how many investors agree to the writedown by the March 8 deadline.