Euro ministers in talks to beef up rescue funds

Euro finance ministers are considering increasing the size of the eurozone's rescue funds which were set up to bail out indebted nations.

Ministers are meeting in Copenhagen today to discuss an expansion of the funds after a draft statement issued yesterday proposed boosting the combined lending capacity from €500bn to €700bn (£585bn), the BBC reports. However, splits have emerged over the issue - whilst many eurozone members, including France, are in favour of a big increase to safeguard the region's stability, Germany, Finland and the Netherlands are thought to favour only a modest increase. Earlier this week the Organisation for Economic Co-operation and Development recommended increasing the bailout funds to 1tn eur...