Greek PM Looking For Debt Swap Agreement By End of Week
January 25, 2012
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Europe Update: Papademos Looking for a Debt Deal by the End of the Week
According to the Greek website Ekathimerini , Prime Minister Lucas Papademos expressed guarded optimism on Tuesday night that a debt swap deal will be reached very soon.
Papademos told the press “We will have a positive outcome by the end of the week.”
In a sign that negotiations are likely winding down, the PM added that Thursday's scheduled trip to Athens by IIF head Charles Dallara "will be his last visit."
Ekathimerini also reported that Papademos met late Tuesday with Finance Minister Evangelos Venizelos who returned from a meeting of European finance ministers who had pushed for a compromise to be found with private holders of Greek debt. Recall that the talks stalled on demands by the Eurozone finance ministers for a yield of no more than 3.5% on the new bonds to complete the debt swap, while private bondholders have insisted on a rate north of 4%.
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