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Eurozone crisis live: Greece bailout fears unnerve markets

Greece’s chances of a second rescue package look shakier following its claim that its European partners want to drive it out of the eurozone

7.54am: Last night’s conference call between euro finance leaders yielded four important developments.

1) Greece and the Eurogroup have collectively found €325m of outstanding saving cuts
2) The Eurogroup will decide on Monday 20 February whether Greece has met the terms of its second, €130bn, rescue deal
3) Some Europeam ministers reportedly written commitments from Greece’s smaller parties
4) There are rumours that Greece would not receive its bailout unless a senior presence from the Troika was installed in Athens.

Parts 3) and 4) aren’t spelled out in the statement released last night – it merely hints at the need for ” specific mechanisms to strengthen the surveillance of programme implementation and to ensure that priority is given to debt servicing”.

7.45am: Good morning, and welcome to another day of rolling coverage of the eurozone debt crisis.

It’s a nervy day too, following the escalation in tensions between Greece and Germany on Wednesday. Evangelos Venizelos’s claim that some countries are trying to loosen Greece’s grip on its euro status has heightened fears that the country’s second bailout may collapse.

Stock markets in Asia have already posted losses, the euro has dipped below the .30 point in early trading, and City analysts expect losses in London too.

Eurogroup ministers decided last night to make a final decision on Greece’s rescue package on Monday – we’ll be tracking the reaction to the decisions taken on that conference call.

And will yesterday’s rumour that the bailout could be delayed until April, or split up, gather pace?….. © 2012 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds