Sovereign debt: Greece was the first to restructure but might not be the last

Clive Horwood, Peter Lee
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As Euromoney went to press, the bailout deal agreed by European heads of state for Greece on July 21 looked at risk of unravelling over a squabble arising from other countries, including Austria and the Netherlands, objecting to the private side deal by which Finland had appeared to extract from Greece cash collateral to be put against its share of commitments.