The new conditions should meet enough interest among Greek bondholders to cut Greek debt by an agreed € 20 bln. The ultra-indebted nation intends to spend in the tune of 10 billion euros from its bailout deal to own over 30 billion euros worth of bonds in exchange. Buy-backs should be completed by December 13 if Athens is to receive 30 billion euros in agreed bailout money.
Greek minister Yannis Stournaras is expected to provide the details to its Eurozone counterparts at a meeting of finance ministers. As Reuters notes, citing a senior EU official, "there will be a debriefing by the Greek minister on the steps he will have taken by then. On Monday you will see it all."
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