GREECE BAILOUT

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STORY: GREECE BAILOUTDATELINE: Feb. 16, 2012LENGTH: 0:01:26LOCATION: BrusselsCATEGORY: ECONOMYPKGINTROGreece's leaders are battling to salvage a 130-billion-euro rescue package to avoid a chaotic default.Eurogroup chairman Jean-Claude Juncker says Greece has made progress in convincing eurozone nations that it should get the rescue fund.PKGEurozone finance ministers have earlier put the new Greek bailout on hold.They say Greece has not shown commitment strong enough for implementing programs that are set in return for the rescue package.After a conference call among the 17 euro zone ministers to discuss how to proceed, Juncker issued a statement saying progress has been been.He says the ministers have received a written commitment that the unpopular cuts would be implemented even after elections of a new government in April.And a report into Greece's debt sustainability has been completed.He says the Eurogroup will be able to take the necessary decisions on Athens at the next meeting
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Producer : Xinhua News Agency

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