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Spain’s Salgado Says Talks With Banks Needed on Writedowns

Spanish Economy Minister Elena Salgado said talks are needed with banks on plans to increase bondholder losses in a second rescue program for Greece.

“I think we have to discuss with the private sector and see what is suitable,” she told reporters in Brussels today after a meeting of euro area finance chiefs.

Ministers discussed investor losses of “more than 21 percent,” she said.

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