In the same day of the awaited European summit, German Chancellor Angela Merkel is looking forward to approving the expansion of the European Financial Stability Facility (EFSF) firepower in lower house of parliament for new EU summit measures.

Juergen Trittin, co-leader of Germany's opposition Greens Party, said European leaders are seeking to recapitalize banks with roughly 100 billion euros while bolstering the EFSF to more than 1 trillion euros.

Lawmakers approved the proposal on September 29, yet consent from the Bundestag's budget committee is needed to expand the powers of the EFSF.