a respected former European Central Bank official, Otmar Issing of Germany, warned that failure to use the crisis to enforce Europe‘s budget rules more strictly could lead to the eventual breakup of economic and monetary union.

Euro zone sources said ministers would consider next Monday ways to enable the European Financial Stability Facility (EFSF) to lend its full nominal value of 440 billion euros (365.5 billion pounds), instead of roughly 250 billion at present, to cope with any future rescues.