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The French Ministry of Finance announced that French banks and insurance funds were the first ones to say "yes" to the proposal of the Greek government to participate in the bailout of Greece. They will relieve the Greek debt with around 15 billion euros, which is to be paid to the maturity of Greek government bonds by 2020. These are the first positive results to come after the start of the formal negotiations between Greek government representatives and international financial institute. It represents the largest commercial and investment banks in the world, and international investment and pension funds. 

On the negotiating table it needs to be determined a specific way in which private owners of Greek government bonds will join voluntary with the mitigation of external debt obligations of the troubled country. The options facing them are few and the most popular measure is roll over of bonds maturing in 2020 with new 30-year term, which will have lower than the current rate. Alternatively, investors can accept new bonds at a reduced nominal value (not more than 21%), which however will have a higher interest rate. The different options were agreed upon at a summit of European leaders last week and now the only thing remaining is to find the right formula of how different investors will decide to participate in the process. 

Participants in the meeting gave an assurance that they will support Greece in accordance with the decisions made on July 21 of this year in Brussels, said the French Finance Minister François Baroin. He welcomed the decision of the French financial institutions and said that this is a step towards ensuring economic stability in the euro zone. 

The decisions made at the summit and the strong support of the European Union in the healing process of the Greek economy clearly paid off. Greek Finance Minister Evangelos Venizelos said that after the second medium-term rehabilitation plan, Greek citizens have begun to return their savings in local banks. Only for one week deposits have grown by almost one billion euros and the trends are that this number will multiply. Increasing of deposits is still mainly due to the ordinary citizens because the deposited amounts are small, but Venizelos encouraged all Greek citizens to put their money back in the local banking system, which according to him, after the European warranty is now the most stable financial system on the old continent.