For Greece Government and Hedge Fund Creditors, it is Time for “One for the Money, Two for the Show”

Greece, creditors edge closer to deal

Greece, creditors edge closer to deal

Greece and its private creditors made progress on Thursday in talks on restructuring its debt, both sides said, and they will continue negotiating on Friday with the aim of sealing an agreement within a few days.

Athens needs a deal quickly to avert a chaotic default when a major bond redemption comes due in March. Reuters’ George Georgiopoulos and Lefteris Papadimas reported that Greece’s creditors were demanding that the European Central Bank contribute to a deal to put the country’s messy finances back on track.

“The talks focused on legal and technical issues and progress was made. They will continue on Friday and probably on Saturday too,” a senior Greek government official told Reuters on condition of anonymity.

“We aim to conclude the deal very soon.”

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