BUSINESS

With PSI deal done, onus is on ECB

The deal on private sector involvement (PSI) in the Greek debt swap has been all but concluded, with the group representing the majority of private creditors meeting on Thursday to fine-tune the details. At the same time a question mark still hangs over the possible participation of the European Central Bank.

A spokesman for the Institute of International Finance, Frank Vogl, announced on Wednesday that the private creditors? group will convene in Paris today to discuss the technical details of the offer Athens is preparing. The IIF is prepared to accept an average interest rate of 3.6 percent on the new 30-year bonds, according to sources.

Rating agency Standard

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