Greek Rescue May Be Delayed by Divisions on Investors’ Role

Euro-area finance chiefs struggling to break a deadlock on how to enroll investors in a second Greek rescue without triggering a default said they may need more time to reach a deal.

An emergency session of finance ministers in Brussels late yesterday 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 backed by France that the move might constitute the euro area’s first sovereign default.