A Quick Note on the IIF

The IIF's (Institute of International Finance) MD, Charles Dallara, is heading negotations with the Greek government on PSI.  The total PSI figure is about 200 billion euros.  From Bloomberg,

"Financial firms on the IIF’s private-creditor investor committee, a larger group of 32 members that includes the smaller steering committee, hold more than 47 billion euros in Greek sovereign debt, according to data compiled by Bloomberg from company reports."

47/200 = 23.5% of private bondholders' holdings.

Question:  Just how representative and binding will some type of eventual accord between the IIF and Greece really be?