It has been reported that Germany has asked Greece to buy back half of its outstanding bonds from private investors at 25% of their value. Germany is of the view that buy back would help Greece in minimizing its unsustainable debt.

Euro zone ministers are planning to conduct a meeting in Athens. During the meeting, ways to overcome the financial crisis and debt burden would be discussed. However, it is believed that the suggestion by Germany could help Greece in achieving 11% more gross domestic product in the next year.

Global financial crisis has affected many European countries. However, even after placing austerity measures, the debt crisis of countries likes Greece and Spain in on rise. It is hoped that soon the European nations would come to a conclusion.

Lowering of interest on bilateral loans to Greece is also under discussion among the Euro zone officials. At present, the interest rates stand at 150 basis points above the costs of raising the money for Greece. In a statement, a euro zone official said, "The euro group is about making a decision on Greece based on the troika report. There has to be a recommendation of the troika for the euro group to make a decision".