Lew Says Greece And Creditors Need To Get From 'close' To 'closed'

By Greg RobbMarketWatch Pulse

The new offer from Greek Prime Minister Alexis Tsipras provides reason "for some hope" that the debt crisis can be resolved but "it is going to be a long slog through the next few days," Treasury Secretary Jacob Lew said Friday. Trust remains "quite thin" between the parties, Lew said during a question and answer session at Nasdaq. "If you look at the proposal that is on the table from last night, it certainly looks like they are getting closer this morning, but we've also seen that they have had trouble getting from close to closed, and that is the question over the next few days," he said. The Treasury Secretary said Greece's debt could be restructured without a haircut.

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