Late Snags Push Back Greek Deal

Greek bailout talks entered a new round of brinkmanship on Tuesday, as euro-zone finance ministers delayed a meeting to approve a new bailout and debt restructuring for Athens, which worked to assure them it is committed to new austerity measures as a debt-redemption deadline looms, The Wall Street Journal reported. The ministers put off the talks in Brussels, which they had scheduled for Wednesday, and replaced them with a teleconference, saying Greek political leaders haven't given clear pledges on the implementation of fresh austerity measures. Tuesday's delay added tension to efforts to seal the bailout, for at least €130 billion ($172 billion), and a linked debt-restructuring deal Athens has been negotiating with private creditors. Germany and other creditor euro-zone governments have voiced growing distrust in Greece's political leaders in recent weeks. Greece needs to complete the debt restructuring and lock in further bailout aid by late March to avoid defaulting on a €14.5 billion debt redemption. Read more. (Subscription required.)