Arab Today, arab today talks with greek creditors resume
Last Updated : GMT 15:50:22
Arab Today, arab today
Arab Today, arab today

Talks with Greek creditors resume

Arab Today, arab today

Arab Today, arab today Talks with Greek creditors resume

Athens - UPI

Officials in Europe said an announcement on Greek debt devaluation could come this weekend, but that no deal is set in stone yet. Greece has been negotiating with private investors to have them accept a devaluation of the debt they hold with the possibility of the bonds becoming worthless if no deal is reached, The New York Times reported. Talks have been shelved twice already, but negotiating teams, the Greek government on one side and Charles Dallara of the banking trade group the Institute of International Finance on the other, are meeting over the weekend to see if a deal can be reached. The European Commission, the International Monetary Fund and the European Central Bank have said a deal is a requirement for them to provide as much as $39 billion in aid to Greece, which will keep Greece from going into default in March. The terms presented to bondholders is this: Make a a deal now or face losing the entire value of Greek debt in March. One of the sticking point in the talks is how much of a bonus bondholders could receive if Greece hits various economic targets. Another is what interest rate or coupon investors will accept for new 30-year bonds, which would be swapped for bonds that mature this year. Investors may accept rates as low as 3.6 percent, depending on what kind of bonuses are offered, the Times said. But some investors may also refuse to participate and take Greece to court, an option that could take many years before a final verdict is reached.

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Arab Today, arab today talks with greek creditors resume Arab Today, arab today talks with greek creditors resume

 



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