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EU considering 50% haircut on Greece bonds

The Greek bond losses may be accompanied by a pledge to rule out debt restructurings in other countries that received bailouts, such as Portugal, to persuade investors that Europe has mastered the crisis.

The pledge is whistling in the dark gibberish. Portugal debt will not magically improve because the banksters take a haircut on Greece (which they will certainly try to get the middle class to pay for.)

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