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June 28, 2022

Friday Euro-zone meeting not decided yet, ‘not excluded’

Euro-zone heads of government are likely to hold a special summit of Euro-zone leaders on Friday in a bid to break the deadlock over how to include the private sector in a new Greek aid package, a European Union diplomat said on Tuesday, according to wsj.com A final decision has not yet been made on the timing of the meeting but an announcement is expected Tuesday evening or Wed­nesday morning, the person said.  The meeting follows a gathering of Euro-zone finance ministers on Monday evening, which ended in deadlock on the key issue of how to include Greece’s private sector creditors in a second bailout package for the country.  European Council President Herman Van Rompuy, who chairs meetings of EU government heads, was travelling Tuesday in Spain and Portugal to discuss the spreading debt crisis, which in recent days has caused major volatility in financial markets threatening to engulf larger peripheral economies. A second EU diplomat and a Spanish government spokes­man also said the idea of having a Euro-zone leaders summit Friday is being studied but has not been fixed yet. Despite recent market nervousness, European finance ministers remain at loggerheads over how to help Greece.

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