Greece, EU urged to show flexibility and adopt tough choices to resolve crisis

Tokyo

WITH the Greek crisis entering a further period of cliff-hanging, "eleventh hour" negotiations, two key figures close to the drama have called for further compromises in order to prevent what is seen as the increasing danger of a damaging Greek exit from the euro area.

More "flexibility" is needed on the interest rates charged by some of Greece's official creditors, Charles Dallara, who formerly led debt restructuring negotiations with Greece on behalf of private creditors, told The Business Times. He also called for more concessions on Greece's part.

At the same time, International Monetary Fund chief economist Olivier Blanchard, writing in an IMF blog at the weekend, urged both sides to make…