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UPD: Greek PSI Deal Reached with 3.75% Coupon?
Posted by keeptalkinggreece in Economy
The deal on the Greek bond swap (PSI) has been apparently reached, economic news portal Capital.gr reports. Quoting banking sources, Capital writes that the deal has been reached on a coupon with an average interest rate of 3.7%. At the same time there will be a clause for growth to allow private creditors to earn more from the recovery of the Greek economy. The alleged deal followed a meeting of IIF head Charles Dallara with Greek government official on Thursday night. Both sides believe that the PSI talks will be completed by February 1, 2012. High ranking government sources indicated that progress has been made and that talks will continue on Friday focused on legal and technical issues, Capital writes.
other Greek media report that the next meeting between Dallara and PM Papademos will take place at 06.30 pm on Friday.
EU’s Commissioner Olli Rehn said he expects the deal to be reached either today or over the weekend.
“European Union Economic and Monetary Affairs Commissioner Olli Rehn said authorities are ‘very close’’ to reaching an agreement on a private-sector involvement in Greece this month.
“The next three days will be very crucial for the future in three years. In other words, We’re just about to close a deal on private sector involvement between the Greek government and the private-sector community,” Rehn said at the World Economic Forum in Davos, Switzerland, today. “Preferably still in January rather than February. We need to have a sustainable solution for Greece. PSI won’t be applied to any other country of the euro zone” (Bloomberg )
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