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It left untouched the part of Greece???s Soveriegn debt held by governments, central banks like the ECB and Fed, and by other international funders such as the IMF or the various European bail-out funds like the EFSF etc., and did nothing to ???save??? Greece???s banks from the mountain of bad private debts they still held or which they had pledged as collateral to the ECB. These debts are what ne
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