Wednesday, June 8, 2011

German Banks Shed Third of Greek Debt Since May 2010, FTD Says

Bloomberg
June 8, 2011

German banks shed about a third of the Greek debt they held in May 2010, perhaps reducing their role in negotiations on a second bailout for Greece, Financial Times Deutschland reported.

German banks in January and February held more than 10.3 billion euros ($15 billion) in Greek bonds, compared with about 16 billion euros in April 2010, the newspaper said in an e- mailed preview of an article to be published tomorrow, citing the Bundesbank. The numbers appear to contradict figures from the Bank for International Settlements, the newspaper said.

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