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Friday, September 30, 2011

The Century Bond

Greece is making plans to kick its debt can a very long way down the road, seemingly around 100 years if Reuters has its facts right:

"One of the options the sovereign is looking at is offering a 100-year bond in return for outstanding short-term debt, said a banker at one of the institutions advising Greece who said he saw the plans being studied. 

Two senior Greek government officials denied that such a plan was being considered.

"We are obviously not working on this"

Well they would say that, wouldn't they?

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