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Will Greek Bond Holders Need to Take Further Haircuts?

Wednesday, 25 Jul 2012 | 1:30 AM ET

Greece is unlikely to meet the terms of its bailout program, troika officials have said that further debt restructuring will be required, this as an IMF report suggests that the ECB should take a haircut on its Greek bond holdings. What does that mean in terms of Greece getting the latest tranche of aid? Julia Chatterley has more from Athens.