BUSINESS

Senior Greek official: debt swap talks not concluded, to resume next week

01/13/2012 08:17 EST | Updated 03/14/2012 05:12 EDT
ATHENS, Greece - A senior Greek government official says tough negotiations with private bondholders on a crucial debt relief deal in Athens did not conclude today and that talks will resume again next week.

Prime Minister Lucas Papademos and Finance Minister Evangelos Venizelos met with Charles Dallara and Jean Lemierre of the Institute of International Finance, a global banking body representing private bondholders, to discuss the bond swap deal which aims to see Greece's debt reduced by €100 billion.

The official said the discussions will likely resume next Wednesday, and that "some details" must be examined.

He spoke on condition of anonymity to discuss sensitive negotiations.