M&G's Woolnough: Greek deal rewards 'evil' speculators

Investment Week | 21 Feb 2012

Early this morning it appears that at last Greece and the European authorities are at the final stages of launching a bond swap with the private sector - known as the private sector involvement (PSI) procedure - which will aim to reduce Greece's debt-to-GDP ratio to 120.5% by 2020 (it is currently 160%).

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