European Central Bank

Business Digest, October 29, 2012

PUBLISHED : Monday, 29 October, 2012, 12:00am
UPDATED : Monday, 29 October, 2012, 5:08am


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UBS expected to axe 10,000 jobs

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Germany rules out hit on Greek debt

Germany's finance minister has dismissed the idea of governments and other public creditors taking a hit on their Greek debt holdings, arguing that it would not be legally feasible. However, Wolfgang Schaeuble said in a radio broadcast yesterday that a debt buy-back programme - under which Greece would get loans that would allow it to pay off debts - might be possible. AP