Euro Finance Chiefs Said to Have Good Prospects for Deal on Greek Bailout

Euro-area finance ministers meeting in Brussels have good prospects for reaching a deal on a second Greek rescue package, though more talks are necessary, a European diplomat said today.

Several rounds of talks have taken place between Greece and the Institute of International Finance, which is leading the debt talks on behalf of private creditors, as a majority of euro states were pushing for bondholders to accept greater losses, the diplomat said on condition of anonymity because the talks are ongoing.

All 17 delegations at the talks are committed to reaching an agreement at the meeting, which began at 3:30 p.m. yesterday, the diplomat said.

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

To contact the editor responsible for this story: Patrick Henry at phenry8@bloomberg.net

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