The Euro-area finance ministers met in Bruxelles yesterday, to strengthen the financial safety net for some of the countries with huge debts to service and little market appetite for their bonds.

With Greece and Ireland  recently drawing on the 750 billion Euro rescue fund the members wish to use this as wisely as possible and send out clear signals to the market that all member of the Eurozone and the Euro are very well protected .

This calms markets makes it cheaper for the countries with lower credit ratings to borrow. making it less likely that a  European led  financial crisis occurs.

The German Finance Minister Wolfgang Schaeuble said " Currently the rescue fund isn't under stress" and this has reflected in the strength of the Euro which gained on the US $ last week by 3.5%

The package is in place and the current discussions are to discuss the best ways of utilising the rescue fund and to let the markets know that the Eurozone members are not easy targets.