Eurozone chiefs discuss ESF fund

The finance chiefs from the eurozone’s 17 countries are in negotiations to overcome differences over how to strengthen a bailout fund, which is key to preventing the union’s debt troubles from spinning out of control.

Giving the €440bno European Financial Stability Facility much more firepower is considered essential before the eurozone can deal with its two other main problems: cutting Greece’s massive debts and forcing weak banks to boost their capital buffers to shore up their defences against worsening market turmoil.