Greece Delays Rescue Deal

    Prime Minister Lucas Papademos, arrives for his meeting with the leaders of the three parties backing Greece's coalition government,  in Athens on Sunday, Feb. 5, 2012.  They are meeting to consider demands by Greece's creditors for tougher austerity measures, private sector pay cuts and firings of civil servants. At stake is a new euro130 billion ($171 billion) bailout deal without which Greece will default before the end of March. (AP Photo.Kostas Tsironis)

    Kostas Tsironis / AP Photos

    Europeans are on the edge of their seats as negotiations over a $170.5 billion bailout stalled, delaying a deal that was supposed to have been finalized today to make a European Union deadline. Greek Prime Minister Lucas Papademos and other political leaders could not reach a deal to pass austerity measures and reforms required of the Greek government in order for the EU to send a rescue package to avoid default by mid-March. But the government did announce that it will cut 15,000 state jobs this year.

    Read it at The Guardian