US and European bankers talk over Polish request
Zurich — Nine major American and European banks met privately Monday to discuss Poland's request for $350 million in credit to pay off interest due on part of its estimated $14 billion debt to Western banks.
A Swiss bank source said the bankers ''brainstormed'' to assess options available to some 500 banks owed money by Poland and what would happen if Western banks rejected the latest Polish request for credit. Fears have risen over Poland's ability to repay the loans now that martial law has been imposed.
Poland is demanding the banks agree to the $350 million loan as a condition for rescheduling the main $2.4 billion loan - which Western bankers believe is the only way to keep Poland from defaulting on its repayments.
A Swiss bank spokesman said the American banks were taking a hard-line approach to the credit request, apparently in hopes of pressuring the Soviet Union to help pay the interest due.