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The Institute of International Finance, which has been leading the negotiations on the debt restructuring on behalf of Greece's private creditors, said late Tuesday that some progress had been made in the discussions in recent days. However, indicating the urgency of finding a solution, the IIF stressed a deal had to be found "in the days ahead." Negotiating the details of the second bailout and ensuring Greece gets the funds is the main mandate of the temporary coalition government headed by Papademos, a former central banker appointed in November after a political crisis forced the country's socialist prime minister to resign. On Tuesday, Kapsis warned Greece would be unable to stay in the euro without the new bailout deal. "This famous loan agreement must be signed, otherwise we are outside the markets, out of the euro and things will become much worse," he told private Skai TV.
[Associated
Press;
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