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Justin Kuepper

Germany Signals Greek Debt Write-Off Possibility

By December 3, 2012

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German Chancellor Angela Merkel signaled that Germany might ultimately accept a write-off of Greek debt in an attempt to push a buyback that's critical for Greece to secure more funding, according to a recent article published on Bloomberg's Business Week.

While many economists saw the write-off as inevitable, the German leader had ruled out the idea of writing off any sovereign debt earlier. The write-off now would not appear until 2014 or 2015 and would require that the country reach a budget surplus, if it were to happen.

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