News Highlight

European governments are considering cutting interest rates on emergency loans to Greece and using contributions from the European Central Bank to plug a new financing gap in the second bailout program for Athens. Finance ministers wrangled over how to close the funding hole in a teleconference last night after seeing estimates that Greece’s debt would fall to 129 percent of gross domestic product in 2020, missing a target  of  120  percent. Last  year, the  level  was about 160  percent.

Germany wants euro ‐area finance chiefs to avoid splitting consideration of a 130 billion ‐euro ($171 billion) Greek rescue and a bond swap to cut the nation’s debt load at a meeting next week, coalition lawmakers were told by German government officials in a briefing. As long as Greece meets conditions for the aid, the finance chiefs will probably approve the package along with the debt exchange, three German officials involved  in  the  telephone briefing yesterday  said.

Builders broke ground  on more homes  than  forecast  in  January,  helped  by  warmer weather and  adding  to signs the  U.S. residential real  estate  market  is  stabilizing. Starts rose  1.5 percent to  a 699,000 annual  rate  from December’s  689,000 pace  that  was stronger  than  previously reported,  Commerce Department  figures  showed today in  Washington.