Thu, 22 Dec 2011 10:05:46 GMT
Greece's creditors reluctant to accept greater losses
Greece's
creditors are struggling against IMF pressure to accept greater losses on
government bonds, said three persons familiar with matter. Lenders require government
to issue new bonds worth €70 bn ($91 bn) with a coupon at around 5%. However,
IMF is forcing creditors to take smaller coupon to cut Greek GDP ratio to 120%
by 2020. Without write-downs Greece's debt burden will be nearly twice