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Greek Debt Chief Says Ratings Companies Forced Investors to Sell

Ratings actions forced investors to cut holdings of Greek bonds, creating a market where there are only sellers of the securities, Petros Christodoulou, head of the nation’s debt agency, said today at a conference in London.

The debt chief said he is optimistic Greece’s austerity program will succeed and encourage investors to return to the market, though that “won’t happen overnight.”

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