BREAKING NEWS

Greece, creditors seek bond compromise as clock ticks

By REUTERS

JANUARY 19, 2012 02:46

ATHENS - Greece meets its private creditors on Thursday for a second day of bargaining on a crucial bond swap deal, with time running out for reaching a compromise needed to avoid a default and exit from the euro zone.

Negotiations between Prime Minister Lucas Papademos and Charles Dallara, head of the International Institute of Finance representing private bond holders, resumed on Wednesday after hitting an impasse last week.

"The fact that they met for two and a half hours on Wednesday and that talks will continue on Thursday is an indication (that efforts are being made for a deal)," a Greek government official told Reuters on condition of anonymity.

"Otherwise, the talks would not be continuing."

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