Finance minister Evangelos Venizelos was hopeful on Tuesday of at last reaching a deal with private sector bondholders that is key to a new bailout package for the country.
“We are close to an agreement, I believe that,” Venizelos said at a conference in Athens.
“I believe that because I have a personal insight into the negotiations and I know this is feasible, provided our institutional partners respect the Oct 26 decision,” he said, referring to an agreement by euro zone leaders over a second bailout for Greece.
Separately, a government official said on Tuesday that the negotiations were going well and that the initial terms of the so-called Private Sector Involvement (PSI) were likely to be finalized by early January.
Bankers have in general been less optimistic about prospects for a swift agreement in which they would have to accept a 50 percent nominal reduction in the value of their Greek bondholdings in exchange for a mixture or cash and new bonds.
(source: ibtimes)
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