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Default piles pressure on Greek banks, other borrowers

Athens now says it is willing to accept many of the bailout terms if they are part of a broader deal addressing Greece's funding needs for the next two years

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Greece's widely expected 1.55 billion euro default on an International Monetary Fund (IMF) loan raises the pressure on its banks and other borrowers.

London

GREECE'S widely expected 1.55 billion euro default on an International Monetary Fund (IMF) loan raises the pressure on its banks and other borrowers.

Analysts say the collateral of banks and borrowers is likely to receive a "haircut", that is, the value of the collateral

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