The Financial Times reported that European leaders will discuss expanding the powers of the European rescue fund, in addition to change in EU treaty for stricter budget rules, when they meet this week in the EU summit.

One of the ideas to double the power of the fund is to allow the current EFSF which has 440 billion euros firepower to continue running even after the introduction of the ESM, which will have a firepower of 500 billion euros, in mid- 2012, according to senior European officials.