ECONOMY

IIF’s Dallara focused on haircut despite Greece ‘rollercoaster’

The head of the banking association that is negotiationg with Greece a 50 percent haircut for Greek bondholders says he remains focused on the talks despite Prime Minister George Papandreou proposing a referendum on the deal.

?Every day in dealing with the Greek deal is like getting on the Coney Island rollercoaster,? Charles Dallara, managing director of the Institute of International Finance, said on the BBC?s Newsnight program.

?You take some sharp turns, they?re unexpected, and it rattles you around a little bit but then it settles out and you have to move forward and that?s what we?ve had to do in the past 36 hours or so. We remain focused on this deal.?