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00:57, 28 November 2014 Friday
Update: 09:40, 19 February 2012 Sunday

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Greece targets debt swap from March 8
Greece targets debt swap from March 8
(File Photo)

Greece's cabinet agreed on Saturday to launch a debt swap for private creditors on March 8 with the aim of completing it by March 11, a government official said.

Greece's cabinet agreed on Saturday to launch a debt swap for private creditors on March 8 with the aim of completing it by March 11, a government official said.

The swap is to accompany a $130 billion rescue package that Athens hopes to agree with its euro zone partners on Monday and will mean that creditors take a 70 percent cut in the real value of their holdings.

Reuters



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