Greek Finance Minister To Meet IIF Head

Published January 12, 2012 6:45AM (EST)

ATHENS, Greece (AP) — Greece's finance minister is to hold talks in Athens with the head of a global banking association that is representing private bond holders in negotiations over a critical debt reduction deal that is part of the country's second international bailout.

Evangelos Venizelos is expected to meet with Charles Dallara, head of the Institute of International Finance, on Thursday morning. Dallara is also to meet with Prime Minister Lucas Papademos, as pressure mounts for a conclusion to the negotiations on the bond swap.

Greece hopes to finalize the deal soon with private investors for a voluntary 50 percent reduction in the value of their Greek bond holdings — before a looming March deadline to repay euro14.5 billion in bonds that will come due.

By Salon Staff

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