The European finance ministers said that the austerity measures will not be for all the euro zone, yet only nations that are suffering from widened budget deficit like Portugal and Spain especially as they will be obligated to make further plans to narrow deficit that is choking the economic recovery of the euro zone.

Regarding Germany and Finland, they will not be asked to cut deficit as the EU does not want to push the euro zone back into recession nor weigh on the strength of the euro further.