ATHENS |
ATHENS (Reuters) – Greece expects to clinch a long-awaited bond swap deal within days, Prime Minister Lucas Papademos told Reuters Friday, promising the country would avoid an unruly default feared by financial markets worldwide.
But in a sign that Greece’s troubles will be far from over even with a deal, a report showed that the European Union and IMF want Greece to push through more budget cuts and austerity reforms before they sign off on a new bailout package.
The bond swap talks with private creditors made significant progress on legal and technical issues and will continue Saturday, both sides said late Friday.
A preliminary deal could be sealed by Sunday evening, a Greek government official said, with the aim of submitting a public offer to bondholders by February 15.
“We made significant progress over the last few weeks and in the last few days in particular. We are trying to conclude the discussions as quickly as possible,” Papademos said
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