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Net debt fell to €1.7bn.
The cost of insuring Irish debt fell as well.
The cost of insuring Citigroup's debt fell by 50%.
Net debt fell €52.2m to €258.5m as at 31 December.
Net debt fell by £26m to £71m in the period.
Corporate debt fell in 1991, after the last recession.
Bertelsmann's net debt fell by almost a third €1.2bn.
As a result the production of government collateral (public debt) fell.
But as the price of debt fell, that pattern became increasingly common.
The cost to insure Spanish, Portuguese and Italian debt fell by similar margins.
The stocks of European banks that hold large amounts of Italian debt fell.
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