European shares ended off session high on Wednesday, in thin trade, as investors pared gains on a report euro zone officials were considering delaying the second Greek bailout until after the country holds elections in April.
The market had earlier hit six month highs after the Greek conservative party gave a commitment letter to the European Union and IMF on implementing the new austerity package.
The market does not like it - if Greece cannot get a bailout by mid-March it effectively has a messy default, said Richard Batty, strategist at Standard Life Investments, which has $248.37 billion (158.13 billion pounds) of assets under management.
The country must act now to make the extra spending cuts as there is a danger of contagion to the rest of the market if a chaotic default occurs.
The FTSEurofirst 300 index <.FTEU3> provisionally closed up 0.6 percent at 1,076.26 having been up as much as 1,080.30 after the commitment letter.
(Reporting by Joanne Frearson)