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Greek debt write-down could hit 60%, reports Financial Times

Monday, January 9, 2012

The Financial Times reports that holders of Greek government bonds are prepared to accept write-downs of as much as 60%, as negotiations over the country’s “voluntary” debt restructuring continue. The article quotes BNP Paribas chairman Baudouin Prot as saying that banks are now being asked to accept a haircut above the 50% level that was proposed late last year. It adds that much of the pressure for a bigger write-down comes from the IMF.


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