Greek talks with private sector bondholders to be resumed today as Charles Dallara and Jean Lemierre, representatives of private sector creditors, come back to Athens today to resume negotiations after the rejection of the offer introduced by the IIF by both Greece and European finance ministers.

Both parties will try to compromise to reach a solution after the Finance Chiefs joined the Greek government in rejecting the offer proposed by private-sector bondholders which includes accepting 50% of losses in return for 4% interest rate on new loans, where the ministers are pressuring the private investors to accept bigger losses with lower rate, below 3.5%, to help Greece to trim its budget deficit to 120% of GDP by the year 2020 and to avoid a possible default since the government has to repay 14.5 billion euros of debt maturing on March 20.

On the other hand, the International Monetary Fund (IMF) suggested that European governments and public sector bondholders should also have a role in endorsing Greece.