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Greek Aid Accord Is Possible Before Aug. 20 Deadline, EU Says

Greece can still reach an agreement with its creditors on a new bailout program in time to make a payment to the European Central Bank in two weeks, according to the European Commission.

“Intense work is ongoing in all areas,” Commission spokeswoman Mina Andreeva told reporters in Brussels on Thursday. She said officials were already drafting the memorandum of understanding -- the document outlining Greece’s conditions in return for aid -- and said a deal by Aug. 20 was possible.