The Greek government could lend money from the ESM bailout fund and buy back its own bonds for 25% of their value, so that every euro would reduce the debt mountain by 4 euros. This idea is being studied by the German finance ministry, according to the German magazine Der Spiegel. The creative buy back scheme could improve market mood after the EU Summit didn’t deliver, and could lift the euro. The German finance ministry refused to comment, and stuck with the official policy stance on Greece: that Germany was waiting for the EU / ECB / IMF troika report before making new initiatives. Almost needless to say, the troika report is not expected to show that Greece made progress, to say the least. However, Spiegel reports that talks with debt holders are in the works, checking out if they would agree to such a deal. EUR/USD rose towards the EU Summit on hopes for progress regarding Greece and especially Spain. However, it didn’t challenge the all-important 1.3170 line and eventually retreated and closed at lower levels. If this good news gains traction, optimism could return and the euro could rise once again. For more lines and events, see the EUR/USD forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next GBP/USD Outlook Oct. 22-26 Kenny Fisher 10 years The Greek government could lend money from the ESM bailout fund and buy back its own bonds for 25% of their value, so that every euro would reduce the debt mountain by 4 euros. This idea is being studied by the German finance ministry, according to the German magazine Der Spiegel. The creative buy back scheme could improve market mood after the EU Summit didn't deliver, and could lift the euro. The German finance ministry refused to comment, and stuck with the official policy stance on Greece: that Germany was waiting for the EU / ECB / IMF troika report… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.