Oliver Blanchard, IMF Chief Economist: Haircut On Greek Debt Will Be 'Very Large'

02/06/2012 01:21 pm ET | Updated Apr 07, 2012

WASHINGTON, Feb 6 (Reuters) - The IMF's chief economist, Olivier Blanchard, said on Monday it looks like the 'haircut' on Greek private debt will be "very large" as negotiations between bondholders and the government drag on to cut Greece's debt burden.

"With respect to private creditors at this stage it looks like the haircut will be very large," Blanchard told an event at the Carnegie Endowment for International Peace.