Rating agency Standard & Poor's has given a fresh warning about Greek debt despite a weekend deal, renewing unease on markets. S&P warned that proposals floated by the French Bank Federation risked putting Greece into a selective default, a possibility with potential domino effects of deep concern to financial markets. 'It is our view that each of the two financing options described in the FBF proposal would likely amount to a default under our criteria,' a statement said. On Saturday, euro zone finance ministers approved the next €12 billion slice of a rescue worth €110 billion provided in May last year by the European Union and International Monetary Fund. Release of the money was conditional on the Greek parliament's approving deep new budget measures, which it did last week. But euro zone ministers pushed back an expected announcement over a second rescue package of about the same amount, possibly until September. Analysts said the delay was to enable them to ensure that ratings agencies would give any deal their stamp of approval. In Brussels, European Commission spokesman Amadeu Altafaj said the commission hoped euro zone ministers would make progress on a second rescue at their next meeting on July 11, but that a few more weeks were needed to work out how private bondholders would take part. Some governments, notably in Berlin, insist that private investors share the burden by agreeing to 'roll over' their Greek debt. But there is widespread concern that if the terms of a new rescue are judged to be equivalent to a default, damaging repercussions could sweep through euro zone and global markets.