Euro-Area Accord on New Greek Aid May Be Delayed to July

Talks on a second Greek bailout may drag into July, casting doubt on a payment due early next month, as euro-area finance chiefs struggle to break a deadlock over how to enroll private investors in the rescue.

The finance ministers failed to reconcile a German-led push for bondholders to shoulder part of the cost of a new Greek aid package with European Central Bank warnings that such a move might constitute a default. With consensus elusive before the target date of a June 23-24 leaders’ summit, finance ministers will convene again on June 19 in Luxembourg, a day earlier than planned.