Greece Delays Rescue Deal

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.