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On 1, yes they should. There is nothing to prevent the ECB from repo-ing them at a steep discount with respect to the market valuation which already are about 50% of par value.

So, if you have a Greek bond and supposedly you can sell it at a 50% discount in the secondary market, why could you not repo it at a 60% discount?

Economics is politics by other means

by Migeru (migeru at eurotrib dot com) on Sun Apr 17th, 2011 at 02:50:47 PM EST
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