Eurozone delays Greek bailout decision

The ministers were expected to meet in Brussels on Wednesday but the talks were switched to a conference call after Greek politicians failed to provide written commitments they will enact cuts demanded by creditors.I did not yet receive the required political assurances from the leaders of the Greek coalition parties on the implementation of the programme, Luxembourg Prime Minister Jean-Claude Juncker said in a statement.Juncker said further technical work was also needed between Greece and EU and IMF auditors in a number of areas, including finding another 325 million euros in savings and finishing an analysis of the sustainability of Greeces debt.Against this background, I have decided to convene ministers to a conference call tomorrow in order to discuss the outstanding issues and prepare the ordinary meeting of the Eurogroup on Monday, he added.Greece desperately needs the 230-billion-euro ($303-billion) rescue package -- 130 billion euros in fresh loans and a 100-billion-euro write down on privately-held bonds -- to avoid defaulting on debt owed on March 20.