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The ECB is confident Greece will not default on T-bill payments due later this week, a source...

The ECB is confident Greece will not default on T-bill payments due later this week, a source tells the WSJ. The country is scheduled to sell €3.125B in bills tomorrow, with the funds used to pay €5B in bills maturing on Friday. The paper is mostly held by Greek banks and pledged to the ECB as collateral for loans to the Greek central bank. Nice circle there.
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