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You're reading: Greek bond swap talks enter crucial phase
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Charles Dallara, the head of the Institute of International Finance, which represents Greece’s private bondholders, was meeting with Prime Minister Lucas Papademos and finance chief Evangelos Venizelos.

Greece hopes to finalize the deal soon for the private creditors to take a voluntary 50 percent reduction in the value of their Greek bond holdings. It needs to clinch the deal before it can access any more rescue loans, which it will need to help repay €14.5 billion in bonds on March 20.

People close to the talks said Thursday’s meeting could be decisive. They spoke on condition of anonymity due to the sensitivity of the negotiations.

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