News Headline Summary

Greek finance minister says a further debt restructuring will become possible in case of a primary surplus

- Finance Minister Yannis Stournaras said another Greek debt restructuring is possible, but only on the condition that Greece secures a primary surplus. That will not be known before the end of 2013, he said in an interview with state broadcaster NET TV.

- The minister did stress, however, that the recent decision by the Eurogroup provides for a new reduction in the country’s debt if the Greek state manages to end this year with more revenues than expenses, excluding interest payments.

Update details:

- Of note, Greece completed a debt buyback programme in December, paving the way for the country to receive an aid tranche. The country bought the debt back at an average 33.5% of face value.

Print 07:25, 16 Jan 2013 - Economic commentary - Source: ekathimerini