Eurozone: leaders meet in Luxembourg

Eurozone Finance and Economic Ministers are meeting Luxembourg on Monday to discuss the region’s top issues, with Madrid and Athens at the top of the agenda.

The Eurogroup is debating with Spain’s Economic Minister about the country’s possible use of the European Central Bank’s (ECB) bond-buying programme, despite the constant insistence by Spanish politicians that a bailout is not imminent.

As far as Greece is concerned, the talks with the Troika continue as they attempt to reach an agreement on required budget cuts for the approval of the next aid disbursement. German Chancellor Angela Merkel’s is making her first visit to the country since the beginning of the crisis to meet with Greek Prime Minister Antonis Samaras. The Eurogroup will also examine the situation in Cyprus and Portugal.

Meanwhile, the Eurozone’s 500 billion euro rescue fund gets up-and-running on Monday.

Listen to regional correspondent Nathan Morley’s full report: