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By Gillian Tett
Published: May 27 2010 17:10 | Last updated: May 27 2010 17:10
Last week, some of China's most powerful sovereign wealth fund officials held discreet discussions with investment banks about the outlook for the eurozone. And one of the hottest topics was the thorny issue of haircuts.
More specifically, as the eurozone writhes in turmoil, what the Chinese (and others) are trying to work out is just how big the losses on government bonds might be if, say, Greece were to restructure. Equally crucial, they (and others) are also trying to work out who might take that haircut.
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