After last night’s conference call, Finance Ministers from the 17 nation euro bloc area will now discuss the results of the buyback operation at a Brussels meeting on Thursday morning.
The buy back operation attracted Euro 31.8 bln, but the average price paid was above expectations so the total debt reduction fell short of target , leading to a shortfall of around Eur 450 mln (equating to debt of 126.6% of GDP by 2020… above the 124% target imposed by the IMF as a condition in order to receive the next bailout tranche)
More….. UK Telegraph
