Greece debt swap talks drag into weekend

[dipsydoodle]

(Reuters) - Greece and its creditors will continue negotiations on a debt swap on Saturday, after late-night talks edged them closer to a vital deal but failed to clinch an agreement.

Athens is anxious to strike a deal before Monday's meeting of euro zone finance ministers, just in time to set in motion the paperwork and approvals necessary for Greece to receive a new injection of aid to avoid a messy bankruptcy in March.

"The elements of an unprecedented voluntary PSI are coming into place," the Institute of International Finance said in a statement after Friday's three-hour evening negotiation session, referring to the bond swap scheme.

http://uk.reuters.com/article/2012/01/21/uk-greece-debt-idUKTRE80J08Y20120121

[DCBob]

1. I think they will work out a deal.

I doubt they would be working into the weekend if there wasnt a good possibilty of working it out.

[dipsydoodle]

2. Greece's creditors leave Athens, talks to continue

(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.

http://www.reuters.com/article/2012/01/21/us-greece-idUSL6E8CL02J20120121