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Greece financial future uncertain

February 15, 2012

European finance ministers have cancelled a meeting to discuss Greece's second bailout, creating further uncertainty over Greece's commitment to austerity reforms demanded by its creditors.

Prime minister of Luxembourg Jean-Claude Juncker, who heads the Eurogroup of eurozone finance ministers, said today’s meeting had been replaced by a conference call because Greece had failed to meet all the conditions needed in order to receive its next rescue loan.

Mr. Juncker said the group had not yet received assurances from Greek political leaders over their commitment to cuts, despite the measures being passed by the country's parliament.

Roberta Dowell

Starcom News