Greek officials are due to meet with private international creditors on Wednesday afternoon, reports Reuters, after talks broke down on Friday over the interest rate Greece will offer on new bonds and a plan to enforce investor losses. Cash-strapped Athens needs a deal with the private sector within days to avoid going bankrupt when 14.5bn of bond redemptions fall due in late March. Bondholders said after the Friday talks broke down that an agreement needed to be reached by the end of this week, in order for changes to be made in time. The IIF said on Tuesday its managing director and co-chairman of the private investor creditor steering committee for Greece, Charles Dallara, and Jean Lemierre, special adviser to the chairman, would resume discussions with the Greek government.

This entry was posted by Kate Mackenzie on Wednesday, January 18th, 2012 at 5:05 and is featured in The 6am Cut London (18 Jan 2012) . Tagged with bondholder haircuts, bondholders, Greece, IIF. Edit this entry.