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Greece targets debt swap from March 8: government
February 18, 2012 / 6:08 PM / in 6 years

Greece targets debt swap from March 8: government

ATHENS (Reuters) - 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.

Reporting by George Georgiopoulis; Writing by Mark John

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