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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 375.93-1.8%Nov 14 4:00 PM EST
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To: 2MAR$ who wrote (80331)9/26/2011 3:59:35 AM
From: elmatador1 Recommendation  Read Replies (1) of 217767
 
Eurozone rescue plan 'emerging' as IMF and Greece talk. Plan involves hair cut. Expected 50% write-down of Greece's massive government debt.

There are widespread reports that leading economies are preparing for Greece to partially default on its debts.

Writing off a chunk of Greek debt would allow it to save face and stay in the Euro.

However, it would also mean putting more money into the European rescue fund to cushion the banks and the economies most exposed to Greek debt.

Source: BBC
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