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Greece, which may default on an International Monetary Fund debt repayment due on Tuesday after talks with creditors broke down, owes its official lenders 242.8 billion euros ($271 billion), according to a Reuters calculation based on official data, with Germany by far the largest creditor. (AP)
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That figure includes loans made under two bailouts from European governments and the IMF since 2010 — worth a nominal 220 billion euros so far, of which some has been repaid — as well as Greek government bonds held by the European Central Bank and national central banks in the euro zone. (Reuters)
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Private investors hold 38.7 billion euros of Greek government bonds following a major write-down and debt swap in 2012 that reduced the Greek debt stock by 107 billion euros and the value of private holdings by an estimated 75 percent. (Reuters)
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The Greek government has also issued 15 billion euros in short-term Treasury bills, mostly to Greek banks. Here is a breakdown of the country's foreign debt stock: (AP)
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European officials cheered the agreement reached after late-night talks as a breakthrough toward reviving the Greek economy, and claimed the IMF had agreed to join in with its own loans by the end of this year. (AP)
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European Central Bank: </b></br>The ECB owns roughly 18 billion euros of Greek bonds, which would probably be worth a fraction of their face value should the country leave the euro zone, with 6.7 billion euros maturing in July and August.Beyond a default on Greece's national debt, any exit of Greece from the euro zone would lumber the European Central Bank with a huge bill for lost credit. ECB President Mario Draghi recently said that Greek banks had tapped 118 billion euros of central bank liquidity. That includes 89 billion in what is known as Emergency Liquidity Assistance (ELA). That remains the responsibility of the country's central bank but only if Greece stays in the euro. Were it to leave, the bill would rebound on other euro countries, including Germany.In addition about 45 billion euros of banknotes in Greece represents another liability, being a claim that the wider Eurosystem of central banks would be obliged to honour. (AP)
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(Reuters)
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