Greek bailout still buying time

Posted by Forexsq 91 days ago (http://www.marketwatch.com)

Investors appeared cautiously optimistic that European officials would resolve remaining differences over a long-delayed second bailout for Greece Monday, although economists warned that a deal would likely remain far from the final word on Greece or the broader European debt crisis.

Finance ministers from the 17 nations that share the euro and other top European officials were set to meet later Monday in Brussels. At stake is a 130 billion euro ($172 billion) bailout — the second rescue in two years — and a related write-down for private bondholders that aims to knock €100 billion off the country’s debt load.

Without a rescue, Greece is seen as likely to default when a €14.5 billion bond redemption comes due on March 20.