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Wednesday, August 8, 2012

Eurozone gets ever tougher with Greece.

 The eurozone has rejected a request for a bridge loan to pay back a €3.2B bond to the ECB, which then turned down a proposal to delay the repayment by a month. Greece will therefore auction €6B of short-term paper to local banks this week. Those banks of course rely on emergency liquidity assistance from the Greek Central Bank.

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