Press Statement from the Co-Chairmen of the Steering Committee of the Private Creditor-Investor Committee for Greece
Athens, January 13, 2012 — Charles Dallara and Jean Lemierre, Co-Chairs of the Steering Committee of the Private Creditor-Investor Committee (PCIC) for Greece, continued discussions today in Athens with Prime Minister Lucas Papademos and Deputy Prime Minister and Finance Minister Evangelos Venizelos on a voluntary PSI for Greece, against the background of the October 26/27 Agreement with the Euro Area Leaders. Unfortunately, despite the efforts of Greece’s leadership, the proposal put forward by the Steering Committee of the PCIC—which involves an unprecedented 50% nominal reduction of Greece’s sovereign bonds in private investors’ hands and up to €100 billion of debt forgiveness— has not produced a constructive consolidated response by all parties, consistent with a voluntary exchange of Greek sovereign debt and the October 26/27 Agreement.
Under the circumstances, discussions with Greece and the official sector are paused for reflection on the benefits of a voluntary approach. We very much hope, however, that Greece, with the support of the Euro Area, will be in a position to re-engage constructively with the private sector with a view to finalizing a mutually acceptable agreement on a voluntary debt exchange consistent with the October 26/27 Agreement, in the best interest of both Greece and the Euro Area.
Athens, January 13, 2012 — Charles Dallara and Jean Lemierre, Co-Chairs of the Steering Committee of the Private Creditor-Investor Committee (PCIC) for Greece, continued discussions today in Athens with Prime Minister Lucas Papademos and Deputy Prime Minister and Finance Minister Evangelos Venizelos on a voluntary PSI for Greece, against the background of the October 26/27 Agreement with the Euro Area Leaders. Unfortunately, despite the efforts of Greece’s leadership, the proposal put forward by the Steering Committee of the PCIC—which involves an unprecedented 50% nominal reduction of Greece’s sovereign bonds in private investors’ hands and up to €100 billion of debt forgiveness— has not produced a constructive consolidated response by all parties, consistent with a voluntary exchange of Greek sovereign debt and the October 26/27 Agreement.
Under the circumstances, discussions with Greece and the official sector are paused for reflection on the benefits of a voluntary approach. We very much hope, however, that Greece, with the support of the Euro Area, will be in a position to re-engage constructively with the private sector with a view to finalizing a mutually acceptable agreement on a voluntary debt exchange consistent with the October 26/27 Agreement, in the best interest of both Greece and the Euro Area.
Η Ανάλυση της επίσημης ανακοίνωσης του Διεθνές Χρηματοπιστωτικού Ινστιτούτου (IIF) μετά τις χθεσινές διαπραγματεύσεις των δύο πλευρών, εμπεριέχει και τα κρίσιμα μηνύματα για την τύχη του προγράμματος PSI. Η «μη δημιουργική και συμπαγής απάντηση από όλα τα μέρη της ελληνικής πλευράς» δείχνει το κρίσιμο σημείο. Βέβαια η ελληνική πλευρά αποτελείται, όπως αναφέρεται και στην ανακοίνωση ονομαστικά, από τον κ. Παπαδήμο και τον κ. Βενιζέλο. Έτσι παραμένει αδιευκρίνιστο για τους δύο παραπάνω ανθρώπους, που κρατούν και την τύχη της Ελλάδας και των παιδιών μας στα χέρια τους, ποιες είναι οι διαφωνίες τους στην μη πλήρως ενιαία στάση τους. Έχοντας υπόψη ότι από ελληνικής πλευράς ελληνικά ομόλογα κατέχουν οι ελληνικές τράπεζες κατά 50 δις. ευρώ και τα ελληνικά ασφαλιστικά ταμεία κατά 30 δις. ευρώ, είναι πράγματι κρίμα να μην γνωρίζουμε, ως πολίτες αυτής της χώρας, ποιες διαφορετικές θέσεις πρεσβεύουν οι κ.κ. Παπαδήμος και Βενιζέλος που προφανώς οδήγησαν στην διακοπή των χθεσινών συνομιλιών. Και τελικά όπως αναφέρεται επίσης και στην ανακοίνωση τι και ποιος είναι αυτός από την ελληνική πλευρά, που το Ινστιτούτο εύχεται στην επόμενη συνάντηση να έχει αλλάξει προς μία δημιουργική θέση, που σημαίνει συνεπώς μέχρι τώρα είχε μη δημιουργική, για άγνωστους και ενδεχομένως ιδιοτελείς σκοπούς;
Για ένα τόσο κρίσιμο και σοβαρό για την ελληνική ιστορία θέμα πρέπει όλοι οι εμπλεκόμενοι, από ελληνικής πλευράς τουλάχιστον να έχουν καθαρές και διατυπωμένες θέσεις, μη επιδεχόμενες παρεξηγήσεις...
Analysis of the formal announcement of the International Financial Institute (IIF) after yesterday's negotiations between the two sides contains critical messages about the fate of the program of Greek PSI. The part " has not produced a constructive consolidated response by all parties " indicates the critical point. Certainly the Greek side is defined, as named in the statement, by Mr. Papademos and Mr. Venizelos. So it remains unclear for two above men, who hold the fate of Greece and our children in their hands, what are the differences resulting in a not completely solid attitude. Noting that in the Greek side, Greek bonds are held by Greek banks up to 50 billion euro and Greek pension funds up to 30 billion euro is a real shame to not know, as citizens of this country, what different positions process Mr. Papademos and Venizelos which apparently led to the discontinuation of yesterday's talks. Finally, as also mentioned in the notice “will be in a position to re-engage constructively “ , what and who from the Greek side the Institute hopes that in the next meeting will be changed towards a creative position, which leads that so far he had been non-creative, for presumably unknown and potential selfish purposes?
For such a critical and important moments in the Greek history whoever chooses to be involved from the Greek side in this issue should have at least clear and articulated positions, that by no way may should result in any misunderstandings...
