Saturday, January 28, 2012

Greece, Creditors Close to Finalizing Debt Deal

Wall Street Journal
January 28, 2012

Negotiations between the Greek government and its private-sector creditors are close to being finalized and a deal should be concluded next week, the head of the Institute for International Finance said on Saturday.

"Further progress was made, building on the understandings reached yesterday on the key legal and technical issues. We are close to a finalization of a voluntary [private-sector involvement]…. We expect to conclude next week as discussions on other issues move forward," Charles Dallara and Jean Lemierre, co-chairmen of the institute's steering committee, said in an emailed statement. The private-sector creditors are being led in negotiations by the Washington-based institute.

An institute spokesman said that Messrs. Dallara and Lemierre will leave Athens on Sunday but remain in consultation with Greek and other authorities. On Friday, Olli Rehn, European commissioner for economic affairs, had said that an agreement over a €100 billion ($132 billion) debt write-down on government bonds could be completed this weekend.


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