Greece, Cyprus center stage in eurozone meeting

BRUSSELS (AP) ? Finance ministers from the 17 EU countries that use the euro are scheduled to consider a report on a plan to reduce Greece's heavy debt ? a step that's part of a strategy to restore the health of the country's public finances.

The ministers, meeting Monday in Brussels, will also examine a preliminary plan for a bailout for the Mediterranean island nation of Cyprus. The size of the bailout will not be known until an audit of the country's banks is completed.

Greece is currently fleshing out details of the bond buyback program that is intended to help stabilize the country's debts.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-12-03-Europe-Financial%20Crisis/id-666ee6bdb71a4406bd99705e6468d0d6

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