Greece will start receiving payments this month from a second bailout after the IMF on Thursday approved a EUR28 billion loan, a day after euro-zone countries finally signed-off on the EUR130 billion program, ending a protracted and dramatic negotiating process that began in July.

The hope is that the package will be enough to keep Greece funded until 2014-2015. But talk of a third Greek bailout has already begun, while a task force set up by the European Commission President Jose Manuel Barroso said there is still a lot of room for improvement if the country is to effectively reform its public sector and jump start its economy after five straight years of recession.

Attention is now shifting to Spain, which is under pressure to meet strict budget commitments. Spain said it would agree to extra budget cuts demanded by other euro-zone countries this year, to meet a revised budget deficit target for this year and bring its deficit below 3% next year, after missing fiscal goals in 2011.

Euro-zone finance ministers are next likely to tackle the issue of reinforcing Europe's firewall to prevent the crisis from spreading further when they meet again in Copenhagen at the end of the month. A decision to boost the size of the euro zone's rescue funds could open the way for the IMF to also push ahead with an increase of its own anticrisis firewall during a spring meeting next month.

This is the known worry list:

--Monday, March 19: Auction to settle Greek credit default swaps after credit event.

--Tuesday, March 20: Spanish and Greek T-bill auctions.

--Wednesday, March 21: German bond auction.

--Thursday, March 22: Flash euro-zone March PMI data.

--Friday, March 23: New deadline for exchange offer of Greek bonds under foreign law and bonds issued by state-owned companies.

--Monday, March 26: German March Ifo business climate index. Belgian bond auction.

--Tuesday, March 27: Spanish T-bill auction. Italian bond auction.

--Wednesday, March 28: Allotment of ECB three-month long-term refinancing operation. Italian T-bill auction. Euro-area February M3/private sector loan data.

--Thursday, March 29: Italian bond auction. Spain's main labor union to hold general strike.

--Friday, March 30: Euro-zone finance ministers meet. Euro-area March inflation data.

--Saturday, March 31: Deadline for Irish government to repay EUR3.1 billion in promissory notes

--Monday, April 2: Euro-zone March manufacturing PMI data.

--Wednesday, April 4: Euro-zone March services PMI data. ECB interest rate decision and press conference.

--Thursday, April 5: Spanish, French bond auctions.

--Tuesday, April 10: Greek T-bill auction.

--Wednesday, April 11: Italian T-bill auction. Settlement of foreign-law Greek bonds under PSI.

--Thursday, April 12: Italian bond (BTP) auction.

--Tuesday, April 17: Spanish, Greek T-bill auctions. German April ZEW economic sentiment indicator.

--Thursday, April 19: Spanish, French bond auctions.

--Friday, April 20: German April Ifo business climate index. Annual spring meeting of IMF/World Bank (through April 22).

--Sunday, April 22: French presidential election, first round.

--Monday, April 23: Belgian bond auction.

--Tuesday, April 24: Spanish T-bill auction; Italian bond (CTZ, BTPei) auction.

--Wednesday, April 25: Allotment of ECB three-month long-term refinancing operation.

--Thursday, April 26: Italian T-bill auction.

--Friday, April 27: Italian bond (BTP) auction.

--Sunday, April 29: Possible general elections in Greece

--Monday, April 30: Euro-area March M3/private sector loan data. Euro-area April inflation data.

-By Jenny Paris and William Kemble-Diaz, Dow Jones Newswires; 44-20-78429347; william.kemble-diaz@dowjones.com

--Emese Bartha, Geoffrey Smith, David Roman, Neelabh Chaturvedi, Alkman Granitsas, Patricia Kowsmann and Eamon Quinn contributed to this article.