Wednesday, February 15, 2012

Eurozone meeting on Greece called off

A pensioner shouts slogans during a protest against the Greek government's planned pension cut, outside Labor Ministry in Athens, on Tuesday, Feb. 14, 2012. The struggling eurozone country has been shut out of long-term debt markets since 2010, and is surviving on rescue loans from European Union countries and the International Monetary Fund. But harsh austerity measures demanded in return for the emergency loans have hammered the economy. (AP Photo/Thanassis Stavrakis)

A pensioner shouts slogans during a protest against the Greek government's planned pension cut, outside Labor Ministry in Athens, on Tuesday, Feb. 14, 2012. The struggling eurozone country has been shut out of long-term debt markets since 2010, and is surviving on rescue loans from European Union countries and the International Monetary Fund. But harsh austerity measures demanded in return for the emergency loans have hammered the economy. (AP Photo/Thanassis Stavrakis)

A worker cleans the sign of the Bank of Greece from red and black paint, after Sunday's riots, in Athens, on Tuesday, Feb. 14, 2012. Firefighters doused smoldering buildings and cleanup crews swept rubble from the streets of central Athens following a night of rioting during which lawmakers approved harsh new austerity measures demanded by bailout creditors to save the nation from bankruptcy. (AP Photo/Thanassis Stavrakis)

Greek Finance Minister Evangelos Venizelos arrives for a cabinet meeting at the Greek Parliament in Athens, on Tuesday, Feb. 14, 2012. Greece's international creditors spelled out the detailed spending cuts and reforms that Athens has to put into practice before it can receive vital bailout cash, according to a draft document obtained by The Associated Press on Tuesday. (AP Photo/Petros Giannakouris)

Greek Prime Minister Lucas Papademos arrives for a cabinet meeting at the Greek Parliament in Athens, on Tuesday, Feb. 14, 2012. Greece's international creditors spelled out the detailed spending cuts and reforms that Athens has to put into practice before it can receive vital bailout cash, according to a draft document obtained by The Associated Press on Tuesday. (AP Photo/Petros Giannakouris)

(AP) ? The head of the Eurogroup, a gathering of eurozone finance ministers, says he has canceled a meeting on Greece's bailout planned for Wednesday as Athens did not fulfill all the demands.

Jean-Claude Juncker, who is also prime minister of Luxembourg, says the Eurogroup was still missing information from Athens on how it plans to save promised euro325 million ($428 million).

He says he also did not receive assurances from the leaders of the two main Greek parties that they will implement the program even after elections expected for April.

He said Tuesday the ministers will instead have a teleconference Wednesday and meet next Monday.

Greece is under massive time pressure to secure a euro130 billion bailout. It also needs approval for a separate debt relief deal with private creditors that has to be done by March 20 and needs several weeks to implement.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

BRUSSELS (AP) ? Two European officials say eurozone finance ministers will most likely not meet Wednesday, as they are not ready to take decisions on the bailout for Greece.

One official said Tuesday "there is a very strong indication that it (the meeting) will not take place."

A second official said experts from national finance ministries who were meeting Tuesday concluded they didn't have all the necessary information to take decisions Wednesday.

He said the ministers will likely instead talk in a teleconference, with the aim to taking decisions at their next scheduled meeting Monday.

Both officials were speaking on condition of anonymity because the talks are confidential.

Even before a final decision on the bailout, Greece needs approval for a separate debt relief deal with private creditors.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-02-14-EU-Europe-Financial-Crisis/id-659a755588814a439acaddd01a8b800a

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