Eurozone finance ministers clash on Greece

A solution to the Greek crisis may be delayed until September after European finance ministers failed to reach an agreement on the terms of the fresh bailout.

Finance officials from the 17 member countries clashed on the terms of the Greek aid at their summit in Brussels yesterday, while yields on Italian and Spanish bonds reached 5.7% and over 6% respectively on contagion fears. Eurozone ministers failed in their negotiations on Greece after weeks of talks between German and French officials on the possibility of a burden-share from the private sector, unsettling financial markets on new concerns for the Italian national debt, which would require a lot more aid from the EFSF in case of bailout. "Ministers stand ready to adopt further measu...