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EU stalls on Greek debt deal

The EU failed to reach a deal today on giving Greece more financial aid, prolonging uncertainty over the future of the country and the eurozone.

Jean-Claude Juncker, chairman of the meeting of eurozone finance ministers, said the talks, which lasted nearly 12 hours, would reconvene on Monday.

He said the ministers "made progress in identifying a consistent package of credible initiatives" aimed at further reduction in Greek debt.

Agreement is needed for the group of creditors to pay Greece the next batch of its rescue loans, expected to reach ¤44.6bn.