Ollie Rehn of the EU, left, and Spanish Finance Minister Elena Salgado speak to reporters early Monday.
STORY HIGHLIGHTS
European Union agrees to multi-billion dollar fund to stabilize European economies
Under the deal, International Monetary Fund may contribute additional $280 billion
Approval of crisis fund comes after a week of heavy losses on European exchanges
(CNN) -- Europe's …………1………..approved in an emergency meeting late Sunday a ……………2…………….that could provide at least 440 billion euros (US $560 billion) for a ………3……………aimed at ensuring financial stability across Europe.
The deal comes after a week of …………4………….losses for some of the European Union's member states in the wake of a massive bailout for Greece's battered economy.
The ministers, meeting in ……………5………….sought to ease markets shaken by ……………6………….before they re-opened Monday.
Under the deal announced early Monday, …………7………………….could provide up to 220 billion euros (US $280 billion) to the crisis fund in addition to the EU's contribution of 440 billion euros, ……………8…………..Elena Salgado said.
