Progress on PSI to see talks end next week

Next week will see the conclusion of negotiations on the private sector involvement (PSI+) in the restructuring of the Greek debt, according to an IIF statement issued after the meeting of its head, Charles Dallara, with Prime Minister Lucas Papademos in Athens on Saturday.

The Institute of International Finance statement adds that the private creditors, whom it represents, are close to the completion of the program for the slashing of the country?s debt. ?There has been fresh progress in the talks,? the statement reads.

Finance Minister Evangelos Venizelos agreed, stating that ?we are just a step before an agreement on PSI. Next week we shall complete the negotiations,? along with the talks on the new loan contract, he said.

Dallara will leave Greece on Sunday, but remain in close contact with the Greek government.

The main points of the PSI plan will be one of the topics in the talks that Papademos will have on Sunday at 1 p.m. with the leaders of the parties supporting his government, Giorgos Papandreou of PASOK, Antonis Samaras of New Democracy and Giorgos Karatzaferis of Popular Orthodox Rally (LAOS).

At 8.30 p.m. on Saturday Papademos began a meeting with representatives of the country?s official sector creditors, the European Commission, the European Central Bank and the International Monetary Fund.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.