LAGONISSI, Greece (AP) -- Greece's finance minister says talks with banks for a debt reduction deal worth euro100 billion ($127 billion) are at "a very good point."
Evangelos Venizelos made the remark Wednesday, a day before he is due to resume talks in Athens with Charles Dallara, the head of a global banking association that is representing private bond holders.
Greece is hoping to finalize the deal soon with private investors for a voluntary 50 percent reduction in the value of their Greek bond holdings -- before a looming March deadline to repay euro14 billion ($17.8 billion) in bonds that will come due.
(Copyright 2012 by The Associated Press. All Rights Reserved.)