But the idea for debt exchange gave him hope.
In 2010, the debt exchange was re-opened to holders of the debt.
In June, Argentina completed the reopening of its 2005 debt exchange and on July 1, announced the results.
The offer was for a debt exchange on a voluntary basis in support of Greece.
In fact, the debt exchange far exceeded bankers' expectations.
The welfare of the individual preempts that of society in our Sphere, and the terms of the debt exchange must be honored.
Because aid can be so highly leveraged through debt exchange, the forests are cheap to save.
Western Union said yesterday that its bondholders had approved a debt exchange that would complete a long-sought restructuring of the troubled telecommunications company.
The debt exchange was the last hurdle in the race by the company to complete its restructuring plan before the end of the year.
Even yesterday's vote on the debt exchange came after several extensions.