Greek debt swap talks suspended
Saturday 21 January 2012
Greece's government says that negotiations with private creditors aimed at lightening Greece's debt load have been suspended unexpectedly and that the creditors' representative has left Greece.
Prime Minister Lucas Papademos, along with Finance Minister Evangelos Venizelos, had met private creditors' representative Charles Dallara, managing director of the Institute of International Finance, for more than four hours on Friday, with the talks continuing past midnight.
A spokesman for Papademos said today that no new date for the talks has been set.
At issue is the interest rate in an eventual bond swap, which could lighten Greece's debt burden by as much as 100 billion euros (£83 billion).
Dallara later said he is "constantly talking by phone" with Greek officials and that the talks are "coming together".
He left the Greek capital for a "long-standing engagement" in Paris, said his spokesman Frank Vogl.
Vogl said that IIF's legal and financial advisers are still in Athens working on several "outstanding issues" with Greek officials and that Dallara will return to Athens "as needed".
sportLiverpool 5 Norwich City 1: Uruguayan striker has now scored 11 league goals against the club
arts + entsOlivier-nominated actor and singer is set to star in Lloyd Webber's musical about the Profumo affair
filmWith more than 70 per cent of early films lost, archivists are scouring the world to preserve the precious examples that remain
sportUnder-10s football coach sacked for telling parents he was 'only interested in winning'
techA piece of new hi-tech kit aims to get us scribbling again
life + styleClarissa Baldwin is the brains behind the slogan 'A Dog is for Life not just for Christmas'
Autumn Statement 2013: Work until you’re 70 - George Osborne accused of ‘living in fantasy land’ over pension reforms
Nigella Lawson arrives for second day in court after accusing Charles Saatchi of threatening to 'destroy' her with drug claims
Is this the scariest advert ever? Japanese tyre commercial comes with its own disclaimer and health warning
‘Put it in my mouth’: Viewers outraged by apparent reference to oral sex in VIP e-cig advert
Paul Walker death: Eight-year-old son of Porsche driver Roger Rodas tried to rescue his father
- 1 The hardwired difference between male and female brains could explain why men are 'better at map reading'
- 2 Is this the scariest advert ever? Japanese tyre commercial comes with its own disclaimer and health warning
- 3 A forgotten episode in Russian history leaves links with the Philippines
- 4 Syrian rebels consider joining forces with regime troops to fight al-Qa’ida
- 5 ‘Put it in my mouth’: Viewers outraged by apparent reference to oral sex in VIP e-cig advert
£Negotiable: Citifocus: High calibre individual with a strong understanding o...
£50000 per annum: Morgan Hunt: Whilst the Real Estate sector was suffering thi...
£41000 - £46000 per annum + Benefits: Pro-Recruitment Group: Newly Qualified ...
£21000 - £24000 per annum: Morgan Hunt: Morgan Hunt are working in partnership...