EU to Decide on Greek Package March 9

Reuters

European leaders will take the final decision on the second bailout package for Greece in a teleconference on March 9, German Finance Minister Wolfgang Schaeuble said on Thursday after a meeting of euro zone finance ministers in Brussels.

Schaeuble said the deal relied now on the extent to which private creditors would accept a loss on their holdings in order to reduce Greece's debt.

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Schaeuble's comments echoed those of Eurogroup Chairman Jean-Claude Juncker, who said earlier Greece had taken all the legal action needed to secure a second bailout from the euro zone countries and ministers were now waiting for the completion of the private second bond swap.