The European Union has agreed that around 100 billion Euros is needed to recapitalise the European banking system, but splits remain before a high-profile summit on Sunday over how to strengthen the Euro zone's bailout fund.
Plans to tackle the Euro zone debt crisis have stalled with Paris and Berlin at odds over how to increase the firepower of the region's bailout fund, French President Nicolas Sarkozy said on Wednesday afternoon.
The International Monetary Fund could buy Spanish or Italian bonds alongside the Euro zone bailout fund if needed, to help boost investor confidence in those countries, the IMF Europe head Antonio Borges said on Wednesday.