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By Luke Baker and Dina Kyriakidou
February 14, 2012 3:35 PM EST
(Reuters) -- Euro zone finance ministers dropped plans on Tuesday for a special face-to-face meeting on Greece's new international bailout, as the cabinet in Athens argued up to the last minute on plugging a 325 million euro ($427 million) gap in its austerity plan.
Ministers in the Eurogroup had been expected to gather in Brussels on Wednesday for a meeting which, if all had gone to plan, would have approved the 130 billion euro rescue and save Greece from a messy bankruptcy next month.
However, with the European Union's patience with Greece close to breaking point, Eurogroup Chairman Jean-Claude Juncker said the ministers would hold only a telephone conference call before a regular meeting already scheduled for February 20.
Juncker said he was still awaiting written undertakings from Greek party leaders on pushing through with the austerity package of pay, pension and job cuts - which parliament passed on Monday as rioters torched dozens of buildings in central Athens.
"I did not yet receive the required political assurances from the leaders of the Greek coalition parties on the implementation of the program," he said in a statement.
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Juncker also said the funding hole required more talks with the "troika" of Greece's EU and IMF lenders.
"It has appeared that further technical work between Greece and the troika is needed in a number of areas, including the closure of the fiscal gap of 325 million euros in 2012 and the debt sustainability analysis," he added.
Critics say the drastic belt-tightening is only deepening Greece's recession, now in its fifth year. With an election expected in April, the EU wants any politician who might take power afterwards to promise to stick with the program.
The frontrunner to become prime minister, conservative New Democracy leader Antonis Samaras, indicated during Sunday's parliamentary debate that he would try to renegotiate the terms of the bailout, further sowing doubt in the minds of European leaders who say they are tired of broken promises.
"NOTHING CAN BE REVERSED"
However, a senior New Democracy official, who declined to be named, said the fact that the party had backed the package in parliament proved its commitment.
"There is no greater commitment than our vote regarding the implementation of the measures," he told Reuters.
"None of the measures we voted for can be reversed. But we will discuss with our partners measures that don't bear fruit, in order to meet our targets faster," he said. "The only thing we've said is that growth should be our priority."
The cabinet of Prime Minister Lucas Papademos met in Athens to fill the 325 million euro hole in its overall package of 3.3 billion euros in extra budget cuts this year which it must spell out in detail to get the new rescue from the EU and IMF.
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