STOCK MARKET WATCH - Wednesday, 15 February 2012

[xchrom]

62. Greece battles to salvage deal

http://www.irishtimes.com/newspaper/breaking/2012/0215/breaking3.html

Greece's leaders battled to salvage a new €130 billion EU/IMF bailout, rejecting doubts over their commitment to a punishing austerity package just hours before a conference call of euro zone finance ministers.

But with mistrust of Athens high, several EU sources told Reuters that finance officials in the 17-state currency union were studying whether it was possible to delay part or all of the rescue deal while still avoiding a disorderly default - news which pushed safe haven German Bund futures to session highs.

Finance minister Evangelos Venizelos insisted that Greece would have clarified all outstanding issues on a 3.3-billion-euro package of cuts in time for a euro zone call scheduled for 4pm Irish time, attacking critics in the zone for "playing with fire".

Greece's conservative party leader Antonis Samaras, widely tipped as the country's next prime minister, pledged in writing that if elected he would stick to an agreed programme of welfare and job cuts that triggered riots in central Athens this week.