(Ahlul Bayt News Agency) - European finance officials have pledged to bolster a rescue fund to end growing risks over Greece's debt crisis possibly spreading and disrupting other fragile economies.
With the future of the euro hanging in the balance, European Union leaders and the 17 euro zone ministers met in Brussels on Monday, under pressure to cobble together a consensus over a second Greek bailout designed to ease the threat to the eurozone's third and fourth biggest economies, Italy and Spain.
"[A bailout] is a fait accompli in principle but what they haven't agreed yet is how it's going to work in practice," Al Jazeera's Paul Brennan said from the sidelines of Monday's talks in Brussels.
"A consensus is developing among the Eurozone, though, that Greece will have to be allowed to write off at least some of its debts. They have been resisting that until now, but it does look inevitable that they'll have to write off some of it because they simply can't pay it all."
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