Euro-Zone Considers Greek Bailout Delay, While Avoiding Default-Reuters

Finance officials from the euro zone are considering a delay to all or part of a second bailout package being prepared for Greece, while avoiding a default on its government debt, Reuters reported Wednesday, citing a number of European Union sources.

Officials are reportedly considering a postponement until after elections to be held in April, since they are worried Greece's political leaders have not shown sufficient commitment to pushing through the tough cuts to spending, wages and public sector jobs needed to meet the terms of the bailout.

But officials are reported to be committed to ensuring the government is able to meet a EUR14.5 billion repayment of its bonds on March 20.

-By Paul Hannon, Dow Jones Newswires [phone]; [e-mail]