Arab Today, arab today chief bank negotiator to meet greek pm thursday
Last Updated : GMT 16:57:44
Arab Today, arab today
Arab Today, arab today

Chief bank negotiator to meet Greek PM Thursday

Arab Today, arab today

Arab Today, arab today Chief bank negotiator to meet Greek PM Thursday

Athens - AFP

The chief negotiator for private investors on a writedown of Greek sovereign bonds will meet Prime Minister Lucas Papademos on Thursday, sources close to the Greek side said. Charles Dallara, head of the Institute of International Finance, was due to arrive in Athens on Wednesday and meet Papademos and Finance Minister Evangelos Venizelos on Thursday, one of the sources said. Dallara\'s visit, announced by the IIF, was confirmed by government sources but not his agenda of meetings. Venizelos later said that discussions with the private sector had \"advanced and are now at a very good point. We are ready for a next meeting, maybe tomorrow morning, with our friend, Charles Dallara, from IIF\". \"I would like to think that with the support of our institutional partners, this scheme will be completed and will confirm to the basic parameters and the keystone objective of the EU Council decision of October 26 for a sustainable public debt in the long run.\" Greece and private investors, mostly banks, are -- according to EU officials -- near a deal on a debt writedown of at least 50 percent in order to reduce the country\'s debt by 100 billion euros ($127 billion), a precondition for unlocking a second rescue agreed in principle at an EU summit last October. \"We are still holding to the goal of signing an framework agreement on debt reduction for the country before the troika of creditors arrives in Athens next week, but the ambiance is becoming feverish,\" said a source close to the negotiators. Auditors for the so-called troika of European Union, International Monetary Fund and European Central Bank are due to begin another review of Greece\'s reform efforts on which disbursement of further funds under its 110-billion-euro rescue package from May 2010 depends. The source said negotiations were now being held around the clock but that there was a growing sense of hostility towards a writedown deal from traders who had speculated on a Greek default. \"The hostility is not coming at all from the banks and institutions who are at the negotiating table, but the market operators who do not own Greek debt but who had bet on Greece and the eurozone collapsing,\" said the source. Market operators who have invested massively on so-called credit default swaps that would pay off if Greece defaults on its debts or taken positions on the euro falling following a default, are getting angry as a deal appears increasingly likely, according to the source. A writedown, which according to various sources is likely to reduce the value of privately-held Greek debt by over 50 percent, should wipe some 100 billion euros off Greece\'s crushing sovereign debt of over 350 billion euros. A deal should help Greece finalise with the eurozone a programme of 130 billion euros in new direct aid, of which 30 billion euros will be used to recapitalise Greek banks to cover their losses resulting from the bond writedown. Greece needs to unlock rescue funds quickly as it must repay 14.43 billion euros in maturing debt on March 20.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chief bank negotiator to meet greek pm thursday Arab Today, arab today chief bank negotiator to meet greek pm thursday

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chief bank negotiator to meet greek pm thursday Arab Today, arab today chief bank negotiator to meet greek pm thursday

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday