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Sunday, November 11, 2012

Eurozone set to again delay Greek aid.

Eurozone finance ministers look increasingly unlikely to agree to unlock the next €31.5B tranche of Greece's aid program at a meeting on Monday, with the FT reporting that the Troika is still divided on how much debt relief Greece needs and who will carry the losses from reduced debt repayments. Greece is fast running out of cash but needs to return €5B to the ECB on Friday, so a stopgap bit of jiggery-pokery wouldn't be a surprise

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