Greece debt talks 'to resume'

Greece debt talks 'to resume'
Greece debt talks 'to resume'
 
 

Thursday, 26, Jan 2012 11:45

By Neal Wallace

Talks between Athens and its private creditors are set to resume later today (26th January) as the two try to agree a deal to reduce Greece's debt levels.

If an agreement can be reached then the troubled country should be in line for addition bailout funds.

The two parties have so far failed to agree on an interest rate for new bonds that would replace existing debts, though Athens has said that it hopes to reach a deal by the end of this week.

Charles Dallara, head of the Institute of International Finance (IIF), the body representing Greece's private creditors, is set to resume talks this afternoon, with the IIF saying that it wants the interest rate on newly-issued bonds to be four per cent.

Greece is holding out for a lower rate, with eurozone ministers calling for 3.5 per cent.

We're mobile!

Get news, sport and entertainment on your mobile. Text inthenews to 84010 or go to http://m.inthenews.co.uk. There is no charge for this service but the SMS will be charged at your standard operator rate.