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Germany's KFW says fears disorderly Greek default

From reuters.com

Germany's state controlled development bank KFW is concerned that Greece will not get the backing it needs for a voluntary debt swap. Greece's private creditors have until Thursday night to decide if they will participate in a bond swap aimed at avoiding a disorderly default that would drag other vulnerable countries deeper into the euro zone debt crisis. Investors must decide whether to agree to take a nominal 53.5 percent loss on their bonds as part of a bailout to plug holes in Greece's finances. Greece wants 90 percent of debt holders to take up the offer, which would help to cancel more than 100 billion euros of ... (full story)

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