Lagarde pressures Greek creditors to make better offer

IMF chief Christine Lagarde has ramped up the pressure on Greece's private creditors to put a better offer on the table as debt swap negotiations continue this week.

Lagarde told Bloomberg Television at the World Economic Forum in Davos today that the debt swap agreement should make a significant contribution to easing Greece's debt levels. "My understanding is that negotiations are underway. And clearly, up until now, it is not appropriate for the Greeks to accept the creditors' offers. I am pleased to see that they are back to do the drawing board and negotiating and working hard on doing something that is significant and is substantial," she said. Creditors, led by the Institute of International Finance's Charles Dallara, are pursuing talks wit...