Greece's creditors leave Athens, talks to continue
Source: Reuters
Greece's creditors leave Athens, talks to continue
By Sophie Sassard and Dina Kyriakidou
LONDON/ATHENS | Sat Jan 21, 2012 8:36am EST
(Reuters) - The representatives of Greece's private creditors left Athens unexpectedly on Saturday without a deal on a debt swap plan that is vital to avert a disorderly default, sources close to the negotiations told Reuters.
Negotiations will continue over the phone during the weekend but it is unlikely that an agreement can be clinched before next week, the sources said, as Athens races against the clock to strike a deal.
A lot of progress has been made on the details of the plan during talks between Athens and Institute of International Finance chief Charles Dallara, sources say, but any deal needs the approval of the IMF and euro zone countries, who insist on a substantial cut in the debt load.
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