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A worker cleans paint thrown by anti-austerity protesters at the facade of the Bank of Greece in central Athens March 6, 2012. Greece has no plans to extend the March 8 deadline on its bond swap offer to private creditors, Greek officials said on Tuesday, dismissing market rumours that the cutoff date may be put back to increase participation in the offer. REUTERS/Yannis Behrakis (GREECE - Tags: BUSINESS POLITICS) (YANNIS BEHRAKIS/REUTERS)
A worker cleans paint thrown by anti-austerity protesters at the facade of the Bank of Greece in central Athens March 6, 2012. Greece has no plans to extend the March 8 deadline on its bond swap offer to private creditors, Greek officials said on Tuesday, dismissing market rumours that the cutoff date may be put back to increase participation in the offer. REUTERS/Yannis Behrakis (GREECE - Tags: BUSINESS POLITICS) (YANNIS BEHRAKIS/REUTERS)

Greece confident bond-swap deal will be accepted Add to ...

Greek officials are optimistic that an unprecedented debt swap deal will be accepted by private bondholders, but are threatening to default on any that hold out.

Their optimism came as the Institute of International Finance (IIF), a bank lobby group that is negotiating the debt reduction effort with the Greek government, warned that a disorderly default would trigger €1-trillion ($1.3-trillion) in losses across the euro zone.

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