Greece clinches debt deal for bailout
World BusinessMar 11, 2012
Moody’s declares Greece in default on its debtBRUSSELS (AFP) ― Greece took a critical step Friday toward avoiding bankruptcy with a world-record debt write-off deal crucial for the country’s second massive bailout from the IMF and the European Union.Athens announced that a large majority of the country’s private creditors had agreed to a debt swap aimed at erasing 107 billion euros ($140 billion) worth of debt.The success of the deal meant Greece would be able to meet a looming March 20 debt pay