Greece: meeting with the Italian Treasury, nothing done

It appears that no final decision has been made regarding the bailout of the Greek debt. Another time. No significant statements emerged from the meeting at the Italian Treasury, organized by the director general Vittorio Grilli.
The closed-door meeting was attended by officials of the European authorities, around thirty of Greece's main international lenders and representatives of the Institute of International Finance, a lobby that brings together the major world banks.
The purpose of the meeting was to gather different opinions and propose possible rollover programmes. The comparison mainly focused on the plan proposed by the French, whose banks are the most exposed to Greek debt together with the German ones. The spirit that animated the discussions was the desire to find a common solution on the voluntary restructuring of the Greek debt as soon as possible.
The transalpine banks would have proposed to reinvest 70% of maturing bonds, of which 50% in thirty-year bonds and the remaining 20% ​​in high quality zero coupon bonds. The yields on thirty-year bonds would have a variable component indexed to the growth of the Greek gross domestic product.
The Eurogroup will meet again on Sunday 3 July in Brussels. The fifth tranche of 12 billion aid should be released and a new bailout of over 100 billion euros should be prepared. Provided that in the next few days the Greek Parliament gives the green light to the 28 billion euro austerity plan.