Eurozone postpones Greece bailout
2012-02-10 16:45:04
Eurozone finance ministers have postponed the signing of a bailout deal for Greece pending the implementation of certain conditions on the part of Athens.
The chairman of a meeting of Eurozone finance ministers Jean-Claude Juncker says that Greece will have to meet additional conditions to qualify for the bailout package.
First, the Greek parliament will have to approve a package of measures which was endorsed by the Eurozone earlier during its session on Sunday.
Second, Athens will have to work out a specific plan for saving €325mln.
Third, political party leaders will have to provide guarantees that they are following the plan.
Should Greece meet all the conditions, the €130bln bailout will be approved at the next meeting of Eurozone finance ministers which has been slated for February 15th.