Eurozone crisis live: Greece launches debt buyback scheme Greece has raised the flag on its crucial bond buyback scheme. Good morning, and welcome to our rolling coverage of the eurozone crisis - and other key events in the world economy. We can start with some breaking news: Greece has officially launched a scheme to buy back its debt from private investors. This scheme is a crucial part of the new deal for Athens agreed a week ago. It needs to succeed to unlock the €44bn of rescue loans due to Greece. In the last few minutes, The Hellenic Republic ministry of finance announced that it will offer holders of Greek debt the chance to swap their bonds for up to €10bn of six-month bills. Investors will be offered the chance to swap their Greek bonds for a maximum price of between 40.1% and 32.2% of their face value (depending on their maturity). It will work like a "Dutch auction" - with Greece starting with a low offer and raising it until investors bite. The deal will run all week -- concluding on 5pm, Friday 7th December. The results will then be announced as soon "as reasonably practicable." But the Hellenic Republic also cautioned that the swap can only proceed if it meets "all of the conditions under a financing agreement entered into with the European Financial Stability Facility" -- which is providing the funds for the swap. Finance minister Yannis Stournaras is due to present the finding to the rest of the eurozone this evening in Brussels. I'll be tracking the reaction to the debt swap plan, as well as other key events through the day. That will include a splurge of manufacturing data that will show how global industry is coping with the crisis.