Greece may need to default on debts as IMF deadline looms, warns Goldman

Greece may have to default on its debts and impose curbs on bank withdrawals before reaching a deal with its creditors, according to Goldman Sachs, as a crucial payment deadline approaches.

Greece holds new talks on bond swap

ATHENS, Greece (AP) — The Greek government will hold a second day of talks Friday with representatives of private bondholders on a crucial debt relief deal, without which it could suffer a catastrophic bankruptcy that would send shockwaves through the global economy.