News Headline Summary

Greek finance minister source says international lenders are mulling a EUR 9bln return of ECB profits, up to EUR 8bln in interest rate cut on loans among measures to cut Greek debt

Says:
- International lenders are also mulling cutting Greek debt by EUR 10bln via debt buyback and extending maturities.
- Greek finance ministry is already preparing procedures for debt buyback.
- If approved by Eurogroup, the Greek debt buyback could be completed by year-end.

Update details:

- These are all options that have been outlined over the past week or so.

Reaction details:

- In reaction to the news EUR/USD moved 12 pips to the upside from 1.2904 to 1.2916.

Print 09:51, 23 Nov 2012 - Economic commentary - Source: Newswires