Papademos to tackle terms of new international bailout

Greek Prime Minister Lucas Papademos will meet coalition party leaders today to approve the terms of a new international bailout.

The meeting was scheduled to take place yesterday but was postponed until today.

A spokesman for the Prime Minister's office explained the delay, saying a series of very technical points have taken longer to resolve than foreseen.

Meanwhile a final debt rescheduling deal has been drafted between Greece and its creditors and could be signed soon.

The euro took a solid jump on markets against the dollar on the news. However, analysts have sounded a note of caution saying there is still a lot to be done to seal the deal.

The document still needs to be discussed by party leaders who can derail the talks at any time by opposing key measures.