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would be for Greece to buy its debt on the secondary markets at current distressed prices.

The current >10% yields simply mean that holders of past bonds sold them for much less than their face value, thus providing the new buyers with a higher yield. That means that past buyers of the bond have already taken losses by selling at less than their official value.

Wind power

by Jerome a Paris (etg@eurotrib.com) on Thu Apr 29th, 2010 at 04:26:48 PM EST
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