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News Summary: Eurozone seeks accord on Greece aid

The Associated Press

ANOTHER TRY: European Union officials will make a fresh try to reach a political accord on desperately needed bailout loans for Greece after failing to reach a deal last week, pushing the country closer to bankruptcy and a possible exit from the euro.

EXTENSION: Irish finance minister Michael Noonan said the major point of contention is whether to give Greece an extra two years to reach its debt reduction goals, and if so, how to finance that extension.

LOAN ON HOLD: The ministers need to agree on an extension before they can agree on paying Greece a €31.5 billion ($40.2 billion) rescue loan that has been kept on hold for months. Along with further aid scheduled to be disbursed later this year, the total could reach €44 billion ($56.15 billion).