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German officials believe that the extent of the Fund will be sufficient for Greece blocks and let it go bankrupt without extending fears of contagion to other countries

Eurozone leaders inject more than ? 250 billion (£ 207bn) at the bottom to protect the single currency in a desperate effort to prevent the spread of Greece, officials said Friday.

finance ministers will agree on the package within fifteen days, but always leave the insurance plan in the order of ? 1.3tn below the city estimates that the firewall needed to protect Italy and Spain from a panic would happen if Greece went bankrupt.

Officials said the main hedge fund, the ? 440 billion temporary European Financial Stability Fund (EFSF), will be approximately ? 700 billion, before the introduction of the year the next European Stability permanent mechanism.

additional funds should be in place by summer to guard against freezing of loans from private investors.

Brussels rejected the estimates of a fund of ? 2 billion would be needed to provide sufficient confidence in the euro area. The authorities believe that an agreement between Germany and France, which wanted to launch a great firewall, will safeguard the future of the euro.

The German government has pushed for the fund is limited to protect taxpayers against potential liabilities which fall mostly in Berlin.

German officials believe that the extent of the Fund will be sufficient for Greece blocks and let it go bankrupt without extending fears of contagion to other countries.

But analysts of the city said the plan would cover more ground to cover Ireland, Portugal and Greece, with Italy and Spain, to be credible to investors.

The agreement to save Greece agreed last week is considered sufficient to prevent its collapse in the coming months. The U.S. investment bank Citi Saidon said Friday that there was a 50% probability of failure on Greece.

were charged with the troika of EU representatives, advisors to the International Monetary Fund and the European Central Bank, to underestimate the task before Athens, and he is forced to make significant cuts in wages, pensions and social spending.

"Although the analysis of debt sustainability includes a large number of reasonable assumptions, we believe that others, especially the prospects for GDP growth in combination with a mass of fiscal adjustment more important in the coming years and privatization receipts specific to be too optimistic, "he said.

Greece agreed to end ? 100 billion of private sector debt and access to more funds from the EU to put their rescue plan of 240 billion ? in total. However, it must reduce its debt and will have better access to more funds from the EU and the IMF before it can return to their feet, the Citi report said.

The lack of support from analysts that the operation has kept the markets treading water. The FTSE closed 24.86 points higher at 5,965.58, just below the level reached last July 6000.

German DAX rose 0.16%, the CAC of France was up 0.36% while the Dow Jones Industrial Average, which has increased in recent months on the back of strong economic data United States increased by 4 points as London closed.

Holland deficit are based on projected growth of 1.7% in 2013, 2% in 2014 and between 2-2.5% from 2015 to 2017, figures that economists said they are too optimistic. aa
Holland comments on an agreement between Brussels and the newly elected government of the Spanish right wing resulted in a higher deficit target for this year.