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Greece, creditors strive to avoid costly default
Greece goes head to head with its creditors on Wednesday in a renewed attempt to break a deadlock in negotiations to slash the country's debt and stave off default. International private sector creditors represented by the Institute of International Finance IIF.L were set to meet the government in the afternoon. Talks broke down on Friday over the interest rate Greece will offer on new bonds and a plan to enforce investor losses. Ratcheting up pressure on hedge funds and other holders of Greek debt ahead of the talks, Prime Minister Lucas Papademos told the New York Times he will consider legislation forcing ... (full story)
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