Eurozone Finance Ministers will meet later in Brussels, to agree the details of how to bolster their bailout fund and help prevent contagion in the bond markets.
The meeting comes after the US President Barack Obama said yesterday that America stands ready to do its part to help Europe with its deepening debt crisis.
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The ministers are also likely to approve the next tranche of emergency loans for Ireland and Greece.
However, it’s expected the Irish Government will not be given any more reductions in its bailout interest rates.
Markets across the world recorded gains yesterday on the back of hopes that Europe is coming closer to taking control over its financial crisis.
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