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Eurozone crisis live: Greek debt talks to resume

Crucial talks about a Greek debt restructuring are to resume, while the US Federal Reserve has said interest rates will stay near zero until ‘at least late 2014′

7.45am: Good morning and welcome back to our live coverage of the eurozone debt crisis and world economy. Greece will resume talks with private creditors today in a desperate attempt to avert a default on its debt mountain.

Bloomberg reports that Charles Dallara and Jean Lemierre, negotiating on behalf of private creditors, return to Athens today after European finance ministers insisted bondholders take bigger losses on their Greek debt.

On the other side of the pond, the US Federal Reserve – America’s central bank – said last night interest rates would stay close to zero “at least through late 2014″ – longer than previously indicated. Chairman Ben Bernanke expressed concerns about the pace of the economic recovery.

“I don’t think we’re ready to declare that we’ve entered a new, stronger phase at this point. We’ll continue to look at the data,” he said at a press conference. His pessimism contrasted with Barack Obama’s more upbeat message about the economy in his state of the union speech on Tuesday night.

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