Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Greece's creditors leave Athens, talks to continue
Source: Reuters
Greece's creditors leave Athens, talks to continue
By Sophie Sassard and Dina Kyriakidou
LONDON/ATHENS | Sat Jan 21, 2012 8:36am EST
(Reuters) - The representatives of Greece's private creditors left Athens unexpectedly on Saturday without a deal on a debt swap plan that is vital to avert a disorderly default, sources close to the negotiations told Reuters.
Negotiations will continue over the phone during the weekend but it is unlikely that an agreement can be clinched before next week, the sources said, as Athens races against the clock to strike a deal.
A lot of progress has been made on the details of the plan during talks between Athens and Institute of International Finance chief Charles Dallara, sources say, but any deal needs the approval of the IMF and euro zone countries, who insist on a substantial cut in the debt load.
[font size=1]-snip-[/font]
By Sophie Sassard and Dina Kyriakidou
LONDON/ATHENS | Sat Jan 21, 2012 8:36am EST
(Reuters) - The representatives of Greece's private creditors left Athens unexpectedly on Saturday without a deal on a debt swap plan that is vital to avert a disorderly default, sources close to the negotiations told Reuters.
Negotiations will continue over the phone during the weekend but it is unlikely that an agreement can be clinched before next week, the sources said, as Athens races against the clock to strike a deal.
A lot of progress has been made on the details of the plan during talks between Athens and Institute of International Finance chief Charles Dallara, sources say, but any deal needs the approval of the IMF and euro zone countries, who insist on a substantial cut in the debt load.
[font size=1]-snip-[/font]
Read more: http://www.reuters.com/article/2012/01/21/us-greece-idUSL6E8CL02J20120121