Greek talks banking chief positive for future

The chairman of the latest rescue talks on Greece says he is positive a way of supporting Greece will be found.

International monetary authorities and eurozone governments are trying to build a new rescue package for Greece.
For the first time they want private lenders to contribute and lenders have been meeting in Paris to work out how they can contribute to a new bail-out.
The comments came from Charles Dallara, the head of the lobby group that is chairing the meeting.
Mr Dallara, from the Institute of International Finance (IIF), acknowledged that the solution was not an easy one but said he was "very positive" about the outcome.
He told the BBC's Christian Fraser: "I actually believe, in spite of all the challenges, all the difficulties, that the seeds of success are being planted."
The talks are the first in a series of meetings aimed to find a way of giving Greece a second rescue package, thought to be worth a similar amount to the first one of 112bn euros (£100bn).
French banks, which are among the biggest lenders to Greece and therefore have the most to lose from any default, have proposed giving the country softer repayment terms.
Agency problems Not all banks are thought to be as willing, but Mr Dallara said there was hope: "The private financial community has signalled quite clearly in the last week its intent and willingness to explore voluntary options.
"Everyone recognises it is in the interests of all stakeholders to seek a voluntary solution."
One problem lies with the credit rating agencies, who measure the health of borrowers, including countries.
Their opinion affects the terms on which a borrower can lend.
On Monday, Standard & Poor's warned that current proposals for restructuring Greece's debt would effectively constitute a default, something that would trigger write downs of bank assets and potentially cause mayhem in global financial markets.
Mr Dallara said that he thought a way could be found to satisfy the ratings agencies.
The IIF represents insurers and other financial firms as well as banks including BNP Paribas, Deutsche Bank, HSBC and Societe Generale.
It is playing an informal role co-ordinating international banks to reach consensus about private-sector involvement in any bail-out.

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