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Greece Starts Discussions on Voluntary Debt Swap With Banks

The Greek government started talks with banks on the terms of the voluntary debt swap that is part of the country’s international bailout agreement, the Finance Ministry in Athens said.

The debt swap -- part of a second rescue package for Greece -- aims to put the country on a path to cut its overall debt load to 120 percent of gross domestic product by 2020. The discussions in Athens are expected to take weeks to conclude, a European official said today on condition of anonymity.