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Eurozone delays decision on vital Greek loans

Hours of talks between eurozone finance ministers on the imploding finances of Greece broke up today without the ministers signing off on a vital instalment of rescue loans needed to avoid bankruptcy next month. Greece will get the next €12 billion ($NZ21b) of its existing €110 billion bailout package in early July, but only if it manages to pass €28 billion in new spending cuts and economic reforms by the end of the month, said Jean-Claude Juncker, the prime minister of Luxembourg who also chairs the regular meetings of the 17 eurozone finance ministers. “We have to, of course, await this vote” by the Greek parliament,…