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    Debt swap slams Greek banks' profits

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    euronews (in English)

    by euronews (in English)

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    Greece's four biggest banks have posted huge losses for last year as they wrote down the value of Greek government bonds.

    They were hit hard by last month's bond swap to cut the country's debts part of the rescue package negotiated by Athens with the European Union and International Monetary Fund.

    ...
    http://www.euronews.net/