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“One Step Away From PSI Deal” – Why Greeks & Troika Unhappy?

Greece and its private creditors are apparently one step away from completing the voluntary Greek Bond Swap (PSI).  “We are one step away from PSI deal”, Greek Finance Minister Evangelos Venizelos said. “We are close to the finalization of a voluntary PSI”, head of Institute of International Finance Charles Dallara said …

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UPD: Greek PSI Deal Reached with 3.75% Coupon?

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 …

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What Happened to Greek PSI? Don’t Panic & Fasten Seat Belts

New York, Berlin, Paris, Athens: the phones of  state officials, economists and bankers are ringing non-stop, brains are on fire and nerves lay blank as the PSI negotiations did not reach a deal over the weekend, ahead the EuroGroup meeting on Monday in Brussels. Men and women in business suits run nervously up and …

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PSI Talks Interrupted – Dallara Left Athens for Paris…

The Greek PSI-cho thriller continues, as Greek bond swap talks were interrupted in Athens. Leaving Greeks behind to cook in their own broth,  head of Institute of International Finance Charles Dallara left Saturday morning for Paris. Greek media report that the negotiations got stuck on the key issue of the interest rates of …

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PSI: Just a Breath before the Final Deal?

Blazing negotiations on the PSI are taking place in Athens with some Greek media heralding that agreement on major issues has been already achieved. According to several Greek media, the Greek side has proposed the interest rate to start at 3.5% for bonds maturing in 2014. a5 3.9% for bonds …

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Greeks on PSI: Progress But No Deal Yet

While chief of Institute of International Finance (IIF), Charles Dallara is packing his suitcases to travel to Athens on Jan 11/2012, Greeks are doing some homework ahead of the talks. Thus under the pressure of French president Nicolas Sarkozy and German Chancellor Angela Merkel who threaten not to give Greece the next aid …

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IIF’s Dallara in Athens for Talks with Greek PM, FinMin

Charles Dallara, managing director of Institute for International Finance (IIF) is rushing to Athens on Wednesday for talks with Prime Minister Lucas Papademos and Finance Minister Evangelos Venizelos. The talks will focus on the participation of private investors holding Greek bonds and the proposed 50% ‘haircut’. In Frankfurt, Germany, talks …

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The Never Ending Plight of Greek Debt Drives CDS & Spreads High

ECB President Jean Claude Trichet made on Thursday a clear point on Greek Debt and the additional bailout. “ECB’s position does not change. Participation of private sector is voluntary. We don’t want a ‘selective default”. Trichet was speaking during a press conference and gave this answer when he was asked …

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