Greece in talks to avoid sovereign default

Article reports that Greece was in talks with the European Union and International Monetary Fund in late January 2011 on a debt restructuring package aimed at averting a possible sovereign default.

Discussions were under way regarding an initiative that would allow the Greek government to buy back debt with help from the European bailout fund, according to Finance Minister Giorgos Papaconstantinou.

EUObserver, 31.1.11: Back-door debt restructuring on the cards for Greece http://euobserver.com/9/31722

ESO: Background information: The Greek debt crisis of 2010 http://www.europeansources.info/record/the-greek-debt-crisis-key-sources/

ESO: Background information: Greece PM calls for unity in budget debate http://www.europeansources.info/record/greece-pm-calls-for-unity-in-budget-debate-greece-approves-2011-austerity-budget/

Kathimerini, 31.1.11: Week of checks on economy begins http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_26588_31/01/2011_375947

Kathimerini, 28.1.11: Greek bond buyback on the table http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_29280_28/01/2011_375789

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