Greece remains a major focus for markets as it struggles to come up with a debt relief plan. Greece?s prime minister delayed a meeting of Greece?s political parties again yesterday, the second delay in as many days. Greek Prime Minister Lucas Papademos is set to negotiate with leaders of the political parties supporting his caretaker government after he missed another deadline to secure a second aid package. The ECB is prepared to swap its holdings of Greek government bonds to contribute to a reduction of the country?s debt burden, Dow Jones reported yesterday, citing unidentified people briefed on the talks. The agreement could reduce Greece?s debt by as much as 11 billion euros, Dow Jones said. A formal offer for the debt swap must be made by Feb. 13 to allow all procedures to be completed before the March 20 bond comes due. Parliament may be called to vote on the terms of the write-down on Feb. 12, state-runs Athens News Agency reported yesterday, without saying how it got the information.
Source: http://yourrealestatelife.com/blog/2012/02/08/375-debt-relif-program
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