David Cameron will come under pressure today to resist demands to contribute more than £25 billion to a new eurozone bail-out.Read the rest here.
European finance ministers will aim to agree a new €200 billion (£167.7 billion) loan to the International Monetary Fund as part of a deal to save the single currency.
Three quarters of the money is expected to come from eurozone members, but Britain will also be asked to provide funds.
Figures suggest European Union officials expect British taxpayers to be the second largest contributor. The Prime Minister has repeatedly promised not to provide any extra funding for the IMF for the specific purpose of saving the euro and Britain is already liable for £12 billion of loans and guarantees to Ireland, Greece and Portugal.
Earlier this month, EU countries set today as the deadline to raise up to €200 billion in new loans for the IMF to deal with the eurozone crisis.
Finance ministers will hold a conference call in an attempt to reach agreement on the war chest.