Greek CDSs plummet on loan extension rumours

Credit default swap (CDS) spreads on Greece narrowed by more than 100 basis points over the weekend, from 949bp to 848bp, according to data provider Markit.

On Friday, news reports claimed German central bank chief Axel Weber had suggested extending the repayment schedule of the international rescue loans to Greece and Ireland to 30 years. Greek finance minister George Papaconstantinou said in a newspaper interview this morning there were no set plans on the table, but added: "It is clear

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