Greece voiced optimism over a final deal regarding the voluntary swap of Greek bonds, following a fresh round of talks in Athens on Thursday noon between government officials and Institute for International Finance (IIF) Managing Director Charles Dallara who represents the private sector in the negotiations.

Greek Finance Minister Evangelos Venizelos expressed "strong confidence" over a positive and speedy outcome on deliberations of the Private Sector Involvement (PSI) in efforts to ease the country's debt burden to avert a default, after a "productive" meeting with Dallara, local media reported.

The ongoing negotiations have reached a very good point, said Venizelos, adding that an agreement could be reached after further talks to be held in Brussels later on Thursday and in Athens on Friday between Dallara and European and Greek officials.

The PSI deal is part of the euro zone October 27 agreement on the release of a new bailout loans package to Greece to stave off a bankruptcy as soon as March that could rock the European common currency zone.

Over the past month private banks and investment funds negotiate the tough terms of their voluntary participation in the crucial plan, such as the extent of the write down on Greek bonds, the maturities, interest rates of the new bonds and other guarantees.

The initial plan under the October agreement forecast a 100-percent participation of the private sector in the PSI plan and a 50-percent "haircut" on the Greek bonds that could erase some 100 billion euros (127.36 billion U.S. dollars) from the over 350 billion euros (445.76 billion U.S. dollars) of the total Greek state debt.

As the negotiations dragged and pressure on Greece increased to accelerate efforts to address the debt crisis in a deteriorating environment for European economies, scenarios arose that the final percentage of participation in the plan could be lower.

In that case, according to analysts, the private sector should accept wider losses, or international lenders should add more billions to the rescue aid for Greece which has been relying on the assistance of European counterparts and International Monetary Fund to escape a financial meltdown since May 2010.