European Finance Ministers will hold a meeting today to debate the debt-crisis-fighting strategy, led by Germany, where projections signal that Portugal may receive a huge bailout plan.

Germany is seeking Portugal's acceptance for a bailout, before the €440 billion Stability Fund expires. The Fund's amount was set by EU-leaders at $1.0 trillion dollar, where Greece and Ireland both acquired nearly €200.0 billion in rescue aid from the fund.

BoJ Chairman Shirakawa said during the bank's quarterly meeting that The financial market in Europe continue to be volatile because of concerns about the sovereign debt risk, adding that global financial markets on the whole have maintained stability.