News Headline Summary

Still nothing heard out of the European meeting in Brussels with comments likely to come in the next few hours...

Analysis details (00:55)

- Market participants continue to await a conclusion to the discussions that have been on-going throughout the day, especially for any developments on Greece.
- Earlier today we heard from sources that the IMF wants a program for Greece that will keep the country financed to 2016 while Euro-zone officials insist on putting a plan together than only covers them up to 2014. This discrepancy in opinion is similar to the public spat we heard between IMF's Lagarde and EU's Rehn last week.
- Other areas of interest are around the potential for ministers granting Greece a 10-yr moratorium on interest payments on EFSF loans, cutting interest rates in bilateral loans to Greece to 25bps from 150bps (objected by Germany), and possibility of a Greek debt buy-back deal shifting from 25 cents for one EUR to 30 cents.

21 Nov 2012 - 00:48 - Fixed Income - Source: RANsquawk

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