Brazil is coming under increasing pressure from its commercial bankers and American and other officials to take a less adamant stand in crucial debt talks.
And other top bankers who might have seen the proposal were busy with the Mexican debt talks over the weekend.
"We would certainly object to organized debt talks," a Treasury official said today.
A change in policy could ease the way for a compromise in the critically important debt talks now going on between Brazil and the banks.
That has left the impression that his legal fate depends on debt talks between the companies.
Having taken its lumps, most of these people argued, Citicorp is in a better position than ever to be patient in future debt talks.
They consider the Brazilian package little different from the established pattern in debt talks on making new loans that are recycled as interest.
Great, the debt talks have been postponed because of a car accident in DC!
Greek protesters take to Athens streets as creditors arrive for debt talks 4.
But, he added, "that's why it's logical for Funaro to switch the focus to the debt talks. "