News Headline Summary

Eurozone ministers and IMF reach deal to cut Greek debt/GDP to 124% in 2020 through package of extra steps totalling 20% according to officials

- An official said that it is going very slow but they have financing and a Debt Sustainability Analysis and they've filled the financing gap until the end of programme in 2014. The DSA is 124% in 2020. He also added that talks on the details of the debt cutting measures with the IMF were still ongoing.

Reaction details (22:10)

- EUR/USD move immediately higher by 20 pips from 1.2972 to 1.2992, trades 1.2984 (+13 pips) last.

Analysis details (22:14)

- Do note that only one financial newswire is running this headline so we will be looking for any further details.
- This change in debt to GDP ratio from 120% to 124% was reported Friday 23rd November by a Greek government source.

26 Nov 2012 - 22:05 - Fixed Income - Source: Newswires

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