Greek exit would destabilise world economy: lobby

The head of the global banking lobby which handled the private debt write-off for Greece warned on Friday that if the country leaves the eurozone, the world economy would suffer badly.

Greece, creditors close in on debt cut deal

(Reuters) - Greece was closing in on an initial deal with private bond holders on Friday that would prevent it from tumbling into a chaotic default but lose investors up to 70 percent of the loans they have given to Athens.