European governments capped fresh rescue lending at 500 billion euros ($666 billion), after a Germany-led coalition opposed a further expansion of the region's anti-crisis firewall.

Adding the 300 billion euros already committed to Greece, Ireland and Portugal, euro-area finance ministers put the overall size of the firewall at 800 billion euros. In a statement, they ruled out using the 240 billion euros left in the temporary rescue fund to go beyond that.

“This sum is important,” Austrian Finance Minister Maria Fekter told reporters at a meeting of European finance ministers in Copenhagen today. “Considering the involvement of the International Monetary Fund as well as the discussions at the G-20, joint participation depends on what Europe does — and Europe has now fixed this sum clearly.”