Report: Greece demanding that private investors accept larger losses on their debt

[marmar]

Nov 25 (Reuters) - Greece is demanding harsh conditions from its creditors as it starts talks with lenders about a proposed bond swap, a key part of Europe's plan to reduce its debt pile and save the euro, people briefed on the talks said.

Charles Dallara's Institute of International Finance (IIF) -- a bank lobby group -- has so far been the lead negotiator, but there are increasing doubts that he has enough support to secure enough take-up for the swap, which will cost banks billions.

The country has now started talking to its creditor banks directly, the sources said.

"There are a number of people in the market who are saying why did (the IIF) take upon themselves this responsibility," one of the people said, asking not to be named. ..........(more)

The complete piece is at: http://www.reuters.com/article/2011/11/25/greece-bond-swap-idUSL5E7MP2HH20111125

[xchrom]

1. recommend

[Vincardog]

2. Greece should tell its patristic creditors to pound sand

[banned from Kos]

3. Sounds like they are.

Watch the price of their bonds jump higher.