Government chiefs will get together on 21 July 2011 in Brussels to discuss "the financial stability of the euro area as a whole and the future financing of the Greek programme", Bloomberg reports.
The meeting comes amid concerns regarding contagion from the International Monetary Fund, as well as Jean-Claude Trichet, president of the European Central Bank - which is tasked with the role of maintaining the euro's purchasing power and providing price stability - voicing opposition to a restructuring of the Greek debt.
Talks are likely to focus on ways to enable Greece to settle its arrears via a possible overhaul of the rescue fund.
It will be the second such meeting in a month and arrives as a failure to come up with a suitable strategy has left the financial markets becoming unnerved.
By Gary Cooper