Eurozone to wait until Wednesday to decide on Greek bailout

Feb 9, 2012, 22:57 GMT

Brussels - Eurozone finance ministers have decided to suspend a decision on approving a second bailout package for Greece until next week, Eurogroup President Jean-Claude Juncker said late Thursday.

'Despite all the important progress achieved over the last days, we did not have all the elements on the table today,' Juncker said after chairing a five-and-a-half hour meeting of eurozone finance ministers in Brussels.

Before approving the aid, the Eurogroup wants the Greek Parliament to approve fresh austerity measures on Sunday; the Greek government to make up for a budget shortfall of more than 300 million euros (400 million dollars) in 2012; and Greek party leaders to give 'strong political assurances' on promised reforms.

Eurozone ministers will meet again Wednesday in Brussels to decide whether conditions are in place to proceed with the bailout, said Juncker, who is also Luxembourg prime minister.