23 Jan '12, 10am

Eurozone seeks to secure Greek debt writedown

Eurozone seeks to secure Greek debt writedown

BRUSSELS - Eurozone finance ministers scrambled on Monday to hammer out a massive debt writedown deal for Greece as Athens and its bank creditors struggled to find a compromise to avoid a messy default. Ministers meet on Monday to finalise a pact to toughen budget discipline across the eurozone while Athens and its private lenders seek common ground to erase 100 billion euros ($129 billion) from a 350 billion euro debt mountain. After weeks of hard bargaining, the chief negotiator for the Institute of International Finance (IIF), the group representing private lenders, said that banks had offered the maximum they were willing to lose in a bond swap deal. "It was certainly the best offer that is consistent with the voluntary debt exchange," Charles Dallara told Greek broadcaster Antenna TV late Sunday after the two sides fell short of a hoped-for weekend agreement. He said ...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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Greece deal will stabilise eurozone: Goldman

Greece deal will stabilise eurozone: Goldman

channelnewsasia.com 22 Jan '12, 9pm

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