Finance Minister Tonio Fenech is currently in Luxembourg for meetings of the Economic and Financial Affairs Council (Ecofin) and the group of eurozone countries (Eurogroup.

European Finance Ministers will be making preparations for the next summit of the European Council on 17 June.

They are also expected to discuss the Council conclusions regarding EU2020, as well as fiscal exit strategies, and ways to further strengthen financial regulation.

The eurozone member states will be discussing the European Commission’s proposal regarding Estonia’s eurozone membership bid.

It is also understood that the finance ministers will discuss ways in which to haul Europe out of its debt crisis and ensure the stability and future viability of the euro.

Yesterday, Hungary – which is not in the eurozone – became the latest country to announce difficulties.