"Progress is great, negotiations are ongoing..."

“There has been great progress in the economic and technical issues for the PSI implementation”

This declaration, by a government source who participated in a meeting at the Maximou Mansion under PM Lucas Papademos, the head of the IIF Charles Dallara and Finance Minister Evangelos Venizelos, marked the progress of negotiations .

The talks to follow will be difficult since their subjects are dense and difficult, “because the agreement is necessary for the survival of the country and its citizens who have suffered a lot”.

The talks with Mr. Charles Dallara will continue tomorrow at the mansion, while optimism is expressed about their outcome.

This optimism was reflected in the official statement issued immediately after the meeting, and the IIF made mention of “significant progress and understanding” on technical and legal matters, confirming that negotiations with the Greek government will continue on Saturday.

During an interview with Reuters shortly before the meeting, the PM had appeared optimistic about reaching an agreement on the PSI within the next few  days. Mr. Papademos stated that the government’s target is to complete negotiations with the Troika on the new loan agreement no later than the middle of next week.

His conviction that the key negotiations to restructuring the Greek debt are now a hair’s breadth away from a happy ending, was expressed by Finance Minister Evangelos Venizelos immediately after his meeting with the Troika.

Mr. Venizelos stated:

“We are one step before an agreement on the PSI, we are negotiating hard on the open and pressing issues required for the new loan agreement. Now is the time of negotiation, no room for renegotiation. We struggle in the name of the nation. We are confronted by the stereotypes and the negative image the country has developed abroad and we need to change it. We must agree on the new loan before February 15th.

We make these negotiations bearing in mind the national interest, the future of our children, keeping every Greek in our minds. We pay heed to the retiree, the professional, the young person looking for a job. The entire Greek society is in the hall of negotiations with us. We strive to represent and convey the anguish they feel.

There is certainly a tough balance of power. There are certain attitudes that prevail in Europe and internationally. When one borrows, when one asks and is given, they find themselves in a tough spot. But we must do everything with dignity and pride because the first thing we find against us is the negative image and stereotypes about our country which we have fostered. This must stop. We must restore the pride of the nation and we will do so."