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Private creditors tell Greece time running short

Private creditors tell Greece time running short (by Polya Lesova)

LONDON (MarketWatch) -- Charles Dallara and Jean Lemierre, co-chairs of the Steering Committee of the Private Creditor-Investor Committee for Greece, said in a statement on Thursday that talks with the Greek government will continue in Athens on Friday, but "time for reaching an agreement is running short." Dallara and Lemierre met in Athens on Thursday with the Greek prime minister and the finance minister to discuss a voluntary debt exchange between Greece and the private sector. "It is essential in order to finalize the voluntary PSI agreement that support be given by all official parties in the days ahead," Dallara and Lemierre said in a statement. Some media reports have said that private-sector investors may have to accept a 60% haircut on the face value of their Greek debt holdings, which would be above the 50% agreed by euro-zone leaders last October.

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Private creditors tell Greece time running short
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