Euro zone ministers had hoped to meet this coming Monday to finalize the second Greek bailout, which must be in place by mid-March to prevent a chaotic default, but the meeting was postponed because of reluctance in Athens to commit to reforms.

Without the austerity measures, which include cutting holiday bonuses and lowering the minimum wage in a country reeling from its fifth year of recession, the ministers say they cannot approve the 130 billion euro ($171 billion) rescue plan.