Slovak FinMin sees Greece debt deal by July 11

An agreement on a new financing package for Greece should be reached by July 11 at the latest, Slovak Finance Minister Ivan Miklos said on Wednesday, suggesting possible slippage on the timing of an agreement.
Euro zone finance ministers made little progress toward a deal on a second bailout package for Athens on Tuesday, but the final agreement had widely been expected to be reached at the EU summit on June 23-24.
"The new programme should be agreed by July 11 at the latest when the eurogroup meets last time ahead of (summer) holidays," Miklos told reporters after a cabinet meeting.
Miklos, a fiscal hawk who rejected contributing to the first 110 billion euro bailout package for debt-laden Greece last year, said debate about the size of the private sector participation in the programme was ongoing.
"The point is what form of private sector participation can be used, as on one hand there are relevant reasons for it to be as big as possible, on the other hand it is true that the higher the participation, the bigger a threat of a default and a contagion of other countries," Miklos told reporters.
He did not explain further.
Miklos said the size of the new programme could be around 120 bln euros, including revenue from planned privatisation of selected Greek state-run companies.
Austrian Finance Minister Maria Fekter told parliament on Wednesday that letting Greece default on its sovereign debt could trigger a chain reaction with dire consequences for the rest of the euro zone.