Bureau Chief, Greece & Cyprus
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Jan 24, 2012

Greek creditors urge quick deal after eurozone

ZURICH/ATHENS (Reuters) – Greece’s private creditors pleaded Tuesday with European officials who rejected their bond swap offer to hammer together a deal before Athens tumbles into a chaotic default.

Athens’ hopes for a swift deal with lenders were evaporating after euro zone ministers Monday rejected creditors’ demand for a 4 percent coupon, or interest rate, on new, longer-dated bonds in exchange for existing debt.

Jan 24, 2012

Greek creditors urge quick deal after eurozone knockback

ZURICH/ATHENS, Jan 24 (Reuters) – Greece’s private
creditors pleaded on Tuesday with European officials who
rejected their bond swap offer to hammer together a deal before
Athens tumbles into a chaotic default.

Athens’ hopes for a swift deal with lenders were evaporating
after euro zone ministers on Monday rejected creditors’ demand
for a 4 percent coupon, or interest rate, on new, longer-dated
bonds in exchange for existing debt.

Jan 24, 2012

Greece clings to hope of debt deal despite setback

BRUSSELS/ATHENS, Jan 24 (Reuters) – Greece was
clinging on Tuesday to hope of a last-minute bond swap deal to
avoid a messy default after euro zone officials sent talks back
to square one by rejecting a final offer from the country’s
private bondholders.

Athens is desperate for a deal within days to ensure funds
from a 130 billion euro rescue plan drawn up by European
partners and the International Monetary Fund arrive before 14.5
billion euros bond redemptions fall due in March.

Jan 24, 2012

Greek conservatives insist on April 8 election

ATHENS (Reuters) – Greece’s co-ruling conservative New Democracy party wants snap elections as soon as the troubled euro zone member clinches a new bailout deal to avoid a messy default, and no later than April 8, its leader Antonis Samaras told Reuters on Tuesday.

He said Greece was in a long-term depression, rather than just a recession. But he also expects a deal with Greece’s creditors to be agreed by March 5 at the latest.

Jan 21, 2012

Greece’s creditors leave Athens

LONDON/ATHENS (Reuters) – The representatives of Greece’s private creditors left Athens unexpectedly on Saturday without a deal on a debt swap plan that is vital to avert a disorderly default, sources close to the negotiations told Reuters.

Negotiations will continue over the phone during the weekend but it is unlikely that an agreement can be clinched before next week, the sources said, as Athens races against the clock to strike a deal.

Jan 21, 2012

Greece’s creditors leave Athens, talks to continue

LONDON/ATHENS (Reuters) – The representatives of Greece’s private creditors left Athens unexpectedly on Saturday without a deal on a debt swap plan that is vital to avert a disorderly default, sources close to the negotiations told Reuters.

Negotiations will continue over the phone during the weekend but it is unlikely that an agreement can be clinched before next week, the sources said, as Athens races against the clock to strike a deal.

Jan 20, 2012

Greece, creditors move to breach gap as clock ticks

LONDON/ATHENS (Reuters) – Greece and its private bondholders inched closer on Thursday to a vital debt swap deal needed to avoid a messy default by Athens, with both sides saying progress has been made and negotiations would continue on Friday.

Nearly a week after talks hit an impasse over the coupon, or interest payment, that Greece must offer on its new bonds under the swap, there were signs the two sides were moving to overcome their differences as time to strike a deal runs out quickly.

Jan 19, 2012

Greece, creditors make little progress as clock ticks

LONDON/ATHENS (Reuters) – Greece and its bondholders have made little progress since resuming stalled talks on a debt swap, three sources close to the talks told Reuters on Thursday, with time to strike a deal and avoid a messy default running out rapidly.

Nearly a week after talks hit an impasse, the two sides remain bogged down over the coupon, or interest payment, that Greece must offer on its new bonds under the swap.

Jan 18, 2012

Greece, creditors seek bond compromise as clock ticks

ATHENS, Jan 19 (Reuters) – Greece meets its private
creditors on Thursday for a second day of bargaining on a
crucial bond swap deal, with time running out for reaching a
compromise needed to avoid a default and exit from the euro
zone.

Negotiations between Prime Minister Lucas Papademos and
Charles Dallara, head of the International Institute of Finance
representing private bond holders, resumed on Wednesday after
hitting an impasse last week.

Jan 18, 2012

Greece, creditors in new push to avoid costly default

ATHENS, Jan 18 (Reuters) – Greece and its creditors go
back to the drawing board on all terms of a planned debt swap on
Wednesday as they fight to overcome an impasse in talks and
stave off a painful default.

Talks broke down last week over the interest rate Greece
will offer on new bonds and a plan to enforce investor losses.
Both sticking points will be discussed when negotiations resume
at about 1500 GMT in Athens.

    • About Dina

      "Based in Athens, in charge of text, pictures and TV teams covering Greece and Cyprus since 2005. Previously based in Bucharest, in charge of Romania and Bulgaria."
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