Business Insider
January 23, 2012
Greek lawmakers and private holders of Greek debt ended the most recent bout of negotiations today, according to an FT Deutscheland report. Despite rumors to the contrary, the debt swap deal remains up in the air.
Charles Dallara, Managing Director of the Institute of International Finance which has represented private creditors in the debt swap deals, departed Athens for Paris today to consult with bank representatives.
This follows reports that progress towards a debt swap deal had been progressing swiftly, and that a debt deal would be approved over the weekend or today. EU Commissioner for Economic and Financial Affairs said this morning that negotiations should wrap up "shortly," according to Bloomberg.
Before leaving Athens, Dallara told reporters that Greek bondholders have made the "maximum offer" on the size of haircuts they're willing to bear. In an interview on Greek television (via Marketwatch), the negotiator said that limit would entail losses of 65% to 70% for private debtholders, a number far higher than the 50% haircut discussed in October.
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