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Saturday, January 21, 2012

Greek Debt Deal Update: Talks Continue

by Calculated Risk on 1/21/2012 08:37:00 PM

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.
...
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.
From the Financial Times: Bondholders face additional losses on Greek debt
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."
excerpt with permission
Earlier:
Summary for Week ending January 20th
Schedule for Week of Jan 22nd