Reuters] Greek debt talks stalled on interest rate -IIF
LONDON, Jan 16 (Reuters) - Talks between Greece and
its creditor banks to slash the country's debt pile broke down
because of different views on what interest rate is acceptable,
said the head of the group leading private sector talks.
"That is essentially the area where the differences are
substantial," said Charles Dallara, managing director of the
Institute of International Financial. "They are looking at the
private sector to accept interest rates that they would not
accept (themselves), which is completely unreasonable."
Dallara said the banks were "very surprised" at the stance
taken by some officials -- representing both governments and
multilateral institutions. The talks stalled on Friday.
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Talks are due to restart on Wednesday.
"There is an urgent need for agreement to inject an element
of stability," Dallara said, but added that "opening and
reopening assumptions about the economic outlook" was also
inconsistent with reaching a deal.
(Reporting by Steve Slater)
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Keywords: GREECE/IIF