Greek debt relief talks grind on

By ELENA BECATOROS – 3 hours ago 

ATHENS, Greece (AP) — Greece’s prime minister was set to resume talks Friday with representatives of private creditors in the hope of reaching a debt reduction deal essential to avoid a disastrous bankruptcy.

Speaking at the World Economic Forum in Davos, Switzerland, Friday, European Monetary Affairs Commissioner Olli Rehn said he hoped a Greek deal would be reached “if not today maybe by the weekend.”

Premier Lucas Papademos and Finance Minister Evangelos Venizelos were expected to meet Friday evening for a second day with Charles Dallara, head of the Institute of International Finance banking lobby, and Jean Lemierre, senior adviser to the chairman of French bank BNP Paribas, the prime minister’s office said.

A senior Greek government official said Thursday that, despite delays in concluding the negotiations, Athens is still aiming to submit its formal offer for the bond-swap deal to banks and other private creditors by Feb. 13.

Athens needs the deal before a €14.5 billion bond repayment on March……………. continues on The Associated Press