The summit of euro zone state heads planned after the end of the summit of EU leaders of March 2 has been cancelled due to disagreements between Germany and other members of the zone, RIA Novosti reports.
The meeting on March 2 was expected to discuss increase of funds to support the European Financial Stability Facility (EFSF) and the European Stability Mechanism (ESM). Berlin refuses to discuss the issue.
The EFSF is functioning and finances Ireland and Portugal. It is expected to finance the second program of Greece. The EFSF will join the ESM in the summer, they will accumulate a total of $750 billion.
