Report: All Greek Banks to Take Part in Debt Swap

Reuters

All Greek banks holding debt eligible for exchange are expected to take part in the sovereign bond swap offer, four Greek banking sources said on Tuesday.

The banks together hold Greek debt worth over 40 billion euros, one banker said. Private holders of Greek debt must declare their interest by March 8 as part of the exchange that imposes losses of over 70 percent on their holdings.

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"I expect all Greek banks to participate in the debt swap," a senior Greek banker told Reuters.

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