Thu, May 17, 2012, 5:37 AM AEST - Australia Markets open in 4 hrs 23 mins

Greek bailout meeting cancelled

The head of the Eurogroup, a gathering of eurozone finance ministers, says he has cancelled a meeting on Greece's bailout planned for Wednesday as Athens did not fulfil all the demands.

Jean-Claude Juncker, who is also prime minister of Luxembourg, says the Eurogroup was still missing information from Athens on how it plans to save promised 325 million euros ($A401 million).

He says he also did not receive assurances from the leaders of the two main Greek parties that they will implement the program even after elections expected for April.

He said the ministers will instead hold a teleconference on Wednesday and meet next Monday.

Greece is under massive time pressure to secure a 130 billion euros bailout. It also needs approval for a separate debt relief deal with private creditors that has to be done by March 20 and needs several weeks to implement.

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