Banks Reaffirm Backing for Oct. 27 EU Summit Agreement, IIF Says

The Institute of International Finance affirmed its commitment to the Oct. 27 agreement with European authorities on a 50 percent writedown on Greek government bonds.

“We will work closely with the Greek authorities, euro- area officials and other relevant parties to agree on, finalize and move toward implementation of the details of the voluntary private-sector involvement in support of Greece’s reform effort to recover from the current crisis, restore market access and lay the basis for renewed growth,” the IIF said in an e-mailed statement today.

To contact the reporter on this story: Rebecca Christie in Brussels at rchristie4@bloomberg.net

To contact the editor responsible for this story: Fergal O’Brien at fobrien@bloomberg.net

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