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Greek buyback timetable published

February 19. 2013 8:18PM
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(AP) Holders of Greece's bonds have until Friday to register their interest in participating in a buyback program that is intended to help stabilize the country's debt.

The country's Public Debt Management Agency also says Monday that the buyback should be completed by Dec. 17.

Details of the buyback have been vague. More are expected later at a meeting of the finance ministers of the 17 EU countries that use the euro.

The buyback was agreed at a meeting last week of the eurozone and the International Monetary Fund when Greece's next bailout payment was authorized. The hope behind the buyback is that it will shave more than 20 billion ($26 billion) off the country's debt.

Greece relies on bailout funds to avoid bankruptcy and a possible exit from the euro.

Associated Press

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