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Sources tell CNBC a 50% haircut on Greek debt is a done deal even as the IMF reportedly believes...

Sources tell CNBC a 50% haircut on Greek debt is a done deal even as the IMF reportedly believes even 60% won't be enough and thinks the number needs to be as high as 75%. Whatever. European markets have rallied to their high of the session. Stoxx 50 +0.5%.
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  • Duude
    , contributor
    Comments (3398) | Send Message
     
    Who in their right mind will lend Greece anything in the future without substantial collateral? Greece is a socialist country. They have no economic growth and its people are dependent upon sucking whatever they can out of the system. Can we reason with the debt reduction they are now somehow better capable of paying back a loan? If so, why is their current debt being discounted so heavily?
    26 Oct 2011, 08:29 AM Reply Like
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