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7 December 2010
Last updated at 04:22 ET
The eurozone's financial safety net is large enough for now, a meeting of the group's finance ministers has said.
After the meeting, the chairman of the Eurogroup countries, Jean-Claude Juncker, said the 750bn euro (£635bn, $1tn) backstop was the right size.
He told reporters: "For the time being, there is no need to increase."
He also said that the issue of a eurozone-wide bond, as proposed by certain member states but opposed by Germany, was not discussed.
Mr Juncker said that the meeting had talked about Spain and Portugal, seen by some as possible future candidates for support funds.
The European Commissioner for economic and monetary affairs, Olli Rehn, praised the two countries for their recent measures.
"We commend Spain for its substantive reform programme with action on all fronts, fiscal, structural, financial.
"As regard Portugal, we welcome the recently passed budget for 2011."
Later on Tuesday, further talks will be held by the wider group of 27 finance ministers of the European Union.
It is expected to officially approve financial assistance to the Irish Republic, agreed at an emergency meeting last month.
The Republic will take further steps to address its economic problems with more detail on its four-year budget plans later on Tuesday afternoon.
Debate Fears have been growing that if other countries followed Greece and the Irish Republic in needing financial backing, that could test the existing bail-out fund to its limits.
To prepare for that, one suggestion was to increase the size of the fund itself, or to create new bonds that would be issued jointly by governments and guaranteed by them all.
The bond would seek to address the problem of spiralling borrowing costs that have affected countries including Greece and the Irish Republic, making it very difficult for them to access much-needed funds on the open markets.
IMF chief Dominique Strauss-Kahn backed the suggestion that the 16-nation eurozone should boost the rescue fund.
But Germany's Chancellor, Angela Merkel, dismissed both proposals on Monday.
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After the meeting, the chairman of the Eurogroup countries, Jean-Claude Juncker, said the 750bn euro (£635bn, $1tn) backstop was the right size.
He told reporters: "For the time being, there is no need to increase."
He also said that the issue of a eurozone-wide bond, as proposed by certain member states but opposed by Germany, was not discussed.
Mr Juncker said that the meeting had talked about Spain and Portugal, seen by some as possible future candidates for support funds.
The European Commissioner for economic and monetary affairs, Olli Rehn, praised the two countries for their recent measures.
"We commend Spain for its substantive reform programme with action on all fronts, fiscal, structural, financial.
"As regard Portugal, we welcome the recently passed budget for 2011."
Later on Tuesday, further talks will be held by the wider group of 27 finance ministers of the European Union.
It is expected to officially approve financial assistance to the Irish Republic, agreed at an emergency meeting last month.
The Republic will take further steps to address its economic problems with more detail on its four-year budget plans later on Tuesday afternoon.
Debate Fears have been growing that if other countries followed Greece and the Irish Republic in needing financial backing, that could test the existing bail-out fund to its limits.
To prepare for that, one suggestion was to increase the size of the fund itself, or to create new bonds that would be issued jointly by governments and guaranteed by them all.
The bond would seek to address the problem of spiralling borrowing costs that have affected countries including Greece and the Irish Republic, making it very difficult for them to access much-needed funds on the open markets.
IMF chief Dominique Strauss-Kahn backed the suggestion that the 16-nation eurozone should boost the rescue fund.
But Germany's Chancellor, Angela Merkel, dismissed both proposals on Monday.
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