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07 July 2011

Banks struggle to agree Greek aid plan in Rome talks


International banks, under pressure from European governments to roll over their holdings of Greek debt, tried again to come up with a joint rescue plan on Thursday after talks over a French proposal fell apart.

European Central Bank and Greek government officials, as well as international and Italian banking executives, met lobby group The Institute of International Finance (IIF) in Rome on Thursday, an Italian Treasury source said. Another source close to the discussions said Deutsche Bank took part.

The banks are struggling to strike a deal which would let private sector creditors provide cash and breathing space to Greek debtors without being defined as a default by credit ratings agencies - which have warned they are watching closely.

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© Reuters


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