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  • ssbbkk52 ssbbkk52 Feb 14, 2012 2:47 PM Flag

    New setback for Greece bailout as meeting canceled

    I wonder if this will affect EGLE's PPS...!

    A meeting of the finance chiefs of the 17 euro countries to discuss Greece's second multibillion bailout planned for Wednesday was called off after Athens failed to deliver on several demands made by its partners in the currency union.

    The last-minute cancellation of the meeting — which was expected to give the green light for a key debt-relief deal with private creditors linked to the bailout — shows the eurozone wants much tougher guarantees now from Athens before giving it an extra euro130 billion ($171 billion) in rescue loans, on top of euro110 billion ($145 billion) granted in 2010.

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