Greek default fears reignited as Eurozone stalls bail-out

Eurozone members have delayed the approval of more than half of the €130bn loan for Greece, raising fears the troubled economy will officially default.

At a Brussels-based meeting yesterday eurozone finance ministers signed off funding for a €206bn restructuring of privately held Greek debt, but said they would need further reassurance from Athens before handing over the remaining €71bn in bail-out funds, the Financial Times has reported. News of the delay has crushed hopes that the full bail-out would be completed next week and that a Greek default on a €14.5bn bond due on March 20 would be avoided. According to reports, the decision to split the bail-out into two parts comes amid concerns from member states that Athens is not doing...