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Greece had a 300B euro debt at the outset of the crisis. It has a 310B debt now. After 2 years (21 months) running a primary surplus.

Many people quote the haircut to Greek debt without realizing that the debt was converted, not eliminated. The net benefit to Greece was a 7% reduction.

by Upstate NY on Mon Feb 23rd, 2015 at 08:36:54 AM EST
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