The FINANCIAL -- German Chancellor Angela Merkel expects to hold an extraordinary meeting of the lower house of parliament to vote on a second bailout package for Greece Feb. 27, the head of the Left party told reporters Friday, according to London Stock Exchange.

The comments by Klaus Ernst came after Merkel met with the parliamentary group heads and party leaders in the chancellery ahead of a special session of the parliamentary groups Friday.

The lower house must approve a second bailout package for Greece once euro-zone finance ministers have approved the plan.

Euro-zone finance ministers Thursday withheld approval for a second Greek bailout Thursday and demanded fresh proof from Greece's political leaders that they were ready to deliver on past and new pledges to seal a second bailout package as early as next week.

They demanded that the Greek parliament must first approve new austerity policies and a package of economic reforms and the government should detail how it would bridge a fiscal gap of EUR325 million to meet budget targets this year.

Earlier Thursday, Greek Prime Minister Lucas Papademos said that political leaders supporting his government had agreed on a reform package after days of difficult negotiations with a troika of lenders--the European Union, the European Central Bank and the International Monetary Fund.

Greece needs a second bailout of EUR130 billion to avoid defaulting next month when EUR14.4 billion in bonds have to be redeemed.

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