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Sunday, Dec 9
2012, 3:07 AM
Greece's bond buyback appears to have been successful, with local and foreign bondholders...
Greece's bond buyback appears to have been successful, with local and foreign bondholders reportedly offering to sell the government about €30B worth of debt, or almost half the amount owed to private creditors. Greece is spending up to €10B on the plan, so its debt burden will fall €20B. The scheme is crucial for the government to receive a long-delayed bailout tranche.