January 23, 2012 12:00 PM EST
Euro zone finance ministers and officials meet on Monday to discuss terms of a Greek debt restructuring as part of a second bailout package for Athens, as well as other issues in the euro zone debt crisis.
Following are comments ahead of their talks:
AUSTRIAN FINANCE MINISTER MARIA FEKTER ON GREEK DEBT TALKS:
"We will listing to the Greek finance minister to hear what models there are. It is important to have a long-term model so that Greece has time and it is important that the interest rates are low so that Greece can reduce its debt mountain.
"We know that the banks are not overly happy, but a crash is far more expensive than such a long-term plan.
ON FISCAL PACT:
"We support the German position of linking the fiscal pact tightly to the ESM (permanent bailout fund).
"We also want to have stronger controls. If one is disciplined, there is no issue of encroachment. You retain your freedom while respecting the rules."
EU ECONOMIC AND MONETARY AFFAIRS COMMISSIONER OLLI REHN ON GREEK DEBT TALKS ON BONDHOLDER LOSSES:
"The talks have been moving well (ahead) at the technical level and I am certain that we will take stock of the PSI talks concerning Greece today in the Eurogroup. And I am confident that we can conclude the negotiations on the PSI (private sector involvement) shortly - preferably in the course of this week."
SPANISH ECONOMY MINISTER LUIS DE GUINDOS ON SITUATION IN SPAIN:
"We are committed to fiscal austerity and economic reforms. We are facing a difficult, a complex environment, but in the days and weeks ahead the Spanish government will show its absolute commitment to austerity.
"It's a two-pronged approach: austerity on the one hand and economic growth on the other."
CYPRIOT FINANCE MINISTER CHARILAOS STAVRAKIS ON POSSIBILITY OF AN AGREEMENT THIS WEEK ON LOSSES FOR GREEK BONDHOLDERS:
"I am not so sure. Everything is open.
"You know the special interest (of the) Cypriot government with the exposure of Cypriot banks. Now we have to wait and see.
"We are here to make proposals. We cannot keep it open forever."