December 04, 2012 at 19:21 PM EST
Greece Surprises With Generous Bond Buyout Terms
Well, I’m shocked. I wrote yesterday that Greece had a stronger position than its European funders and private holders of its outstanding debt, but I theorized that it would use this position to force hedge funds to eat losses. It turns out that Greek leaders (or their masters in Brussels) are savvier than I estimated. [...]
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