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News Summary: ECB official praises Greek reforms

The Associated Press

GREECING WHEELS: A senior European Central Bank official deflected growing speculation that Greece will require a new financial aid deal.

LONG ROW: Joerg Asmussen, one of the ECB's six executive board members, said it won't be clear for months whether Athens would even qualify for more assistance.

LIGHT IN THE TUNNEL: The easing of Greece's recession in the April-June quarter provided "the first signs of stabilization" and there has been progress in public finances, Asmussen said after a meeting in Athens with Greek Finance Minister Yannis Stournaras.