Greece and Europe
Greece and Europe

A scheduled meeting of eurozone finance ministers has been called off after Greece missed another deadline for austerity cut assurances.

The meeting, aimed at finalising the fresh bailout package of €130bn (£108bn), was cancelled because of a lack of firm assurances from Greek leaders, mainly on two matters.

Eurozone ministers have demanded the Greek leadership saves an extra €325m on top of cuts already agreed and assurances from the main political parties that the cuts will take effect after Greece's general election in April.

The meeting in Brussels was scheduled to be attended by Mario Draghi, the president of the European Central Bank, and Olli Rehn, the Commissioner for Economic and Monetary Affairs.

However, the meeting would be replaced by a conference call, the BBC reported.

The last-minute cancellation revealed the eurozone's firm stand in getting clear assurances from the Greek leaders about the implementation of the austerity measures.

The proposed bailout package is aimed at drastic cuts in minimum wage and pensions, public sector layoffs and tax increases.

The austerity measures approved by the Greek parliament have led to widespread panic and protests across the country.

Angry protesters damaged more than buildings in Athens. Many historic buildings, including the Attikon theater, built in 1870, were burnt down by the disgruntled mob.

"They should have asked us before voting another round of awful austerity measures that will never get us out of the crisis," Persa Lissimakou, 31, a bank clerk, said.