by Calculated Risk on 1/21/2012 08:37:00 PM
Saturday, January 21, 2012
Greek Debt Deal Update: Talks Continue
The talks are continuing, but it is unclear if a deal will be reached before the eurozone finance minister meeting on Monday.
From the Athens News: Dallara leaves Athens, talks to continue: sources
The representatives of Greece's private creditors have left Athens and debt swap talks will continue over the phone during the weekend, sources close to the negotiations said, adding that it was unlikely that a deal would be clinched before next week.From the Financial Times: Bondholders face additional losses on Greek debt
...
Athens is anxious to strike a deal before a meeting on Monday of eurozone finance ministers, just in time to set in motion the paperwork and approvals necessary to receive a new injection of aid to avoid a messy bankruptcy in March.
"The elements of an unprecedented voluntary PSI are coming into place," the Institute of International Finance said in a statement after Friday's three-hour evening negotiation session, referring to the bond swap scheme.
The Institute of International Finance, representing holders of some €200bn of Greek debt, on Saturday denied rumours the talks had stalled, saying that experts from its steering committee “will be working with Greek government officials on many aspects of the PSI."Earlier:
excerpt with permission
• Summary for Week ending January 20th
• Schedule for Week of Jan 22nd