Wall Street Journal
July 8, 2011
A senior figure in discussions between governments and the private sector about how to deal with Greece's debt problems said talks had broadened to look at ways of cutting Greece's stock of debt.
Charles Dallara, managing director of the Institute of International Finance, said following a meeting in Rome on Thursday that the discussions were making "meaningful progress" and had broadened beyond proposals to deal with Greece's debt maturities in the next three years.
"We are making I think meaningful progress toward reorienting the approach toward Greece's debt. We are exploring a broader set of options that would not only address near-term cash flow requirements but would also look at a range of techniques to reduce the stock of debt," Mr. Dallara said in a telephone interview from Italy.
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