Financial News: Eurogroup debates 2nd aid package to Greece

Euro zone ministers met here on Tuesday afternoon to debate plans to make Greece's private creditors share the costs of a second aid package. Some steps forward were made during the meeting without however reaching agreement on important issues.
No statements were made at the end of the ministers session. EU sources, however, said that the debate focused mainly on the form that the private secror's participation would take in the second aid package to Greece with the so-called "Vienna Initiative" prevailing in the discussions.
The meeting confirmed a diversion of views between Germany and the European Central Bank.
EU sources also said that during a special Eurogroup meeting next Sunday, an effort will be made for the finding of a formula that would dissociate the release of the fifth tranche of a 110-billion-euro loan agreed with the EU, the ECB and the IMF from a comprehensive decision for the second aid package which could be taken on Ecofin's meeting on July 12.

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