Greek bank stocks fall on debt buyback concerns

Bank stocks were down 2.8% at 1048 local time (0848 GMT), reversing earlier gains at the market opening.

Earlier on Tuesday euro zone finance ministers and the IMF secured a deal to cut the country's debt and release urgently needed loans to keep the economy afloat.

"We've been given some oxygen to continue breathing for a period of time and finally see a stop to this haggling between getting and not getting the tranche," said Takis Zamanis, chief trader at Beta Securities.

"On the other hand, concerns remain as to how the decision on the buyback will materialise and under what terms. It seems the banks are not better off."