Greece hopes for debt swap deal by end of week

Greece says it is aiming to complete negotiations on its debt swap deal by the end of the week, and that the chief negotiator representing private creditors is to return to Athens in a day.

Government spokesman Pantelis Kapsis said Wednesday that Institute of International Finance head Charles Dallara was returning to Greece Thursday, and that “the target is to conclude the … agreement even within this week.”

The deal, known as the Private Sector Involvement, or PSI, aims to reduce the face value of Greek bonds by 50 percent and shave €100 billion ($130 billion) off the country's debt. Talks stalled over the weekend over what interest rates the new bonds would have.

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