STOCK MARKET WATCH - Friday, 17 February 2012

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54. Greece says it has cleared bailout hurdles

http://www.aljazeera.com/news/europe/2012/02/2012215201839789505.html

Greek party leaders have met the final two demands set by the country's international lenders to seal a bailout, according to Evangelos Venizelos, the country's finance minister.

Venizelos told reporters late on Wednesday that the cabinet had decided how to plug a 325-million euro ($422m) gap in a 3.3-billion euro ($4.3bn) budget cuts package which the EU and IMF are demanding in return for the 130-billion euro ($169bn) rescue.

Leaders of both parties Lucas Papademos' coalition government had given written undertakings to implement the austerity measures, which have provoked strikes, protests and riots in Greece, Venizelos said.

Eurozone finance ministers, collectively known as the Eurogroup, had demanded both issues be settled before making a final decision on the bailout, Greece's second since 2010.