09 Feb '12, 6pm

Eurozone not ready to unlock Greek bailout Juncker - Channel NewsAsia:

BRUSSELS: Eurozone finance ministers refused Thursday to give their immediate backing to a second bailout for Greece despite a last-minute deal in Athens on austerity measures demanded by creditors. After rival Greek parties agreed a fresh round of deep cuts, triggering another general strike in Greece, Luxembourg Prime Minister Jean-Claude Juncker said the Eurogroup of finance ministers may only decide on the rescue next week. The ministers huddled in Brussels to review the deal reached in Athens aimed at unlocking a bailout package worth 130 billion euros ($171 billion) and prevent a devastating default. Greek Finance Minister Evangelos Venizelos urged his counterparts to endorse the debt rescue after political leaders in Athens agreed on a new round of austerity. But German Finance Minister Wolfgang Schaeuble warned that the purpose of talks would be "to make clear to G...

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