Greek debt buyback misses goal
- Buyback attracted 32B euros
- Avg price was 33.5 cents on the dollar
- Operation fell short by around 450m euros
- Buyback will reduce Greek debt-to-GDP to 126.6% vs 124% goal
- Eurozone finance ministers will discuss next steps in a conference call this evening
Reuters headlines, citing ‘eurozone sources’
A 32 billion euro buyback missing by 450 million doesn’t seem like a big problem but it’s a complicated operation.