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January 21, 2012

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Debt relief deal 'soon'

GREECE is confident a debt relief deal with private creditors that is crucial to avoid default can be reached "very soon," a spokesman said yesterday.

Prime Minister Lucas Papademos met for a third day with the Institute of International Finance, which represents the private creditors who are being asked to take a loss on their bondholdings to lighten Greece's debt load by 100 billion euros (US$129 billion).

"The atmosphere of the talks is good, they are continuing today, and we hope they will be concluded very soon," spokesman Pantelis Kapsis told private Radio 9.

"This is very important for the sustainability of the national debt."



 

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