Greece To Buy Back Bonds

Dec 12, 2012
Originally published on December 12, 2012 7:36 am
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NPR business news starts with a Greek buyback.

The government in Greece says it will buy back nearly 32 billion euros of its bonds - essentially that means the country would be erasing nearly $40 billion worth of debt. The country's private-sector creditor agreed to sell off the bonds, though at sharply discounted rate. For Greece, getting rid of this chunk of debt should allow the country to get more money from the International Monetary Fund. Transcript provided by NPR, Copyright NPR.