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Banks warm to role in Greek bailout
Germany's bank association on Saturday backed government proposals to get private creditors involved in the cost of a second bailout for Greece, although it was not clear if the banks favoured a controversial bond swap. favored Berlin is pushing hard for commercial banks to contribute to the cost of the estimated 120 billion euro ($172 billion) deal, but has not yet convinced the European Central Bank and ratings agencies that this can be done without triggering a credit default. Officials say the ECB argues that a swap, favored by German Finance Minister Wolfgang Schaeuble, could be judged a default and make Greek ... (full story)