Summary Box: New setback for Greece bailout
BACK AND FORTH: A meeting set for Wednesday of the finance chiefs of the 17 euro countries to discuss Greece's second massive bailout was called off after Athens failed to deliver on several demands made by its partners in the currency union.
WHAT IT MEANS: The last-minute cancellation of the meeting -- which was expected to give the green light for a key debt-relief deal with private creditors linked to the bailout -- shows the eurozone wants much tougher guarantees now from Athens before giving it an extra euro130 billion ($171 billion) in rescue loans, on top of euro110 billion ($145 billion) granted in 2010.
THE ISSUES: The Greek cabinet of ministers was working on how to save an extra euro325 million demanded last week by the eurozone. The other finance ministers also want assurances from the leaders of Greece's two main political parties that they will implement the promised spending cuts and reforms after national elections expected for April.
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