Greek talks to continue

FINAL negotiations on cutting Greek debt to manageable levels, including investors losing at least half of their money, will continue over the next few days in an attempt to prevent a disorderly default.

Athens received the latest tranche of €8 billion under its first bailout last week, but the details of its second bailout of €110bn are still being hammered out.

But there is doubt over whether any new measures will save Greece, since it will have to spend between 6.5% and 7.5% of its GDP just paying interest on its borrowings — with little sign of a return to growth.