Greek bond spreads fall below 800 bps

The yield spread between the 10-year Greek and German benchmark bonds shrank below 800 basis points in the Greek electronic secondary bond market on Tuesday, reflecting investors’ optimism over developments in dealing with a debt crisis in the Eurozone.

A Commission spokesman last week confirmed discussions over a plan for the repurchase of Greek debt, while the German central banker recommended extending to 30 years the repayment period of a 110-billion-euros loan to Greece. An EU Summit on Friday will discuss details of a “total solution” to Eurozone’s debt crisis.

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