German Chancellor Angela Merkel expects breakthrough on euro zone crisis Wednesday

Euro zone debt crisis on Wednesday, after EU finance ministers made progress in talks on recapitalizing banks.

[ I believe that the finance ministers made progress, so that we can achieve our ambitious targets by Wednesday ], Merkel told reporters.

Euro zone countries are working on a plan that involves leveraging the euro zone bailout fund, recapitalizing European banks & putting together a second financing package for Greece that entails deeper losses for private investors.

Euro zone leaders hope the measures will ease market anxiety over euro zone sovereign debt & put an end to the two years old crisis that now threatens the global economy.

Euro zone leaders meet on Sunday to discuss the package but real decisions will only come at the next summit on Wednesday.

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