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On the sword: "Bankruptcy"
On the paper: "Debt Reduction"
On the pedestal: "Greece"
On March 12, Athens announced on March 12 that it had concluded a successful bond swap with its private creditors, nearly 86% of whom agreed to a 50% haircut on their value. The transaction has enabled Greece to reduce its public debt of more than 100 billion euros and now makes likely in the coming days of a second aid package worth 130 billion euros.
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