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Friday, September 23, 2011

The 50% Haircut


Two Greek newspapers claim that the Greek Finance Minister, Evangelos Venizelos, told parliament that he sees three scenarios to resolve the debt crisis, including one involving an orderly default with a 50% haircut for bondholders.

Unsurprisingly, the government is denying he said any such thing.

Draw your own conclusions as to whether he said it or, most certainly secretly believes it.

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