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Thursday, January 19, 2012

Europe Update: Greek Debt Deal Talks continue Friday

by Calculated Risk on 1/19/2012 10:35:00 PM

It sounds like they need a deal in the next few days.

From Reuters: Greece, Creditors Move Closer to Deal in Race Against Time

Greece and its private bondholders resume debt swap talks on Friday amid signs they are inching closer to a long-awaited deal ... A large chunk of the bond swap must be agreed by noon on Friday and formalized before Monday's meeting of euro zone finance ministers, [Finance Minister Evangelos Venizelos] has said.

Adding to the pressure, officials from the "troika" of foreign lenders are due to begin meetings with the Greek government on Friday to discuss reforms and plans to finalize that bailout package.

"Now is the crucial moment in the final battle for the debt swap and the crucial moment in the final and definitive battle for the new bailout," Venizelos told parliament. "Now, now! Now is the time to negotiate for the sake of the country."
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