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Greek Default

The write-down of 70 percent of debts owed to private creditors is The Big Event.

The media have missed it.

Negotiations for debt write-down has been quietly, no daily television pictures where important people get out of black cars.

Media reports on these meetings with dramatic images from the riots in Athens.

But what is great. is silent.

On top of that it is alleged that the debt write-down are voluntary.

And if it is voluntary, it is not Default, most of them claim looking straight into the TV cameras.

But, 70 percent write-down is Default.



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