Rapid deal sought for Greece’s investors

Germany and France pressed yesterday for a rapid deal between Greece and its private creditors that would return its soaring debt to sustainable levels, and said they remained committed to a new bailout that is needed by March to avert a disastrous default.

Eurozone finance ministers were due to decide last night what terms of a Greek debtrestructuring they are ready to accept as part of a second rescue for Athens.

Ahead of that meeting, French finance minister Francois Baroin said an elusive deal to convince the banks and investment funds that own Greek debt to accept deep losses on their holdings appeared to be taking shape.