About 20 banks and insurance companies are meeting in Paris to discuss the role of bondholders in a new Greek aid plan, said the Institute of International Finance, a banking-lobby group hosting the gathering. Talks began last week in Rome under the auspices of IIF Managing Director Charles Dallara, a former U.S. Treasury official.
The next rescue package for Greece is more likely to succeed if it includes a plan to retire outstanding debt through organized buybacks, Dallara said yesterday. A buyback fund of about 50 billion euros could reduce Greeceâs outstanding debt as a proportion of gross domestic product by as much as 20 percent, he said by phone.
http://www.bloomberg.com/news/2011-...-to-take-part-in-rollover-venizelos-says.html
The next rescue package for Greece is more likely to succeed if it includes a plan to retire outstanding debt through organized buybacks, Dallara said yesterday. A buyback fund of about 50 billion euros could reduce Greeceâs outstanding debt as a proportion of gross domestic product by as much as 20 percent, he said by phone.
http://www.bloomberg.com/news/2011-...-to-take-part-in-rollover-venizelos-says.html