The end of the tunnel is near, but not close enough. The Greek government and Greek public debt creditors are still discussing the terms of the fateful agreement on the renewal of 100 billion government bonds in private hands. According to sources close to the negotiating table, negotiations will continue over the weekend, but some details could also be disclosed at the end of the evening.
New bonds should have a duration of 30 years “with a grace period of ten years”. The coupons will be distributed in stages, with an average yield of 4%. This therefore seems to be the preliminary agreement towards which the president of the international banking foundation (IIF) Charles Dallara, the Greek premier Lucas Papademos and the finance minister Evangelos Venizelos are converging.
