<p><br /> European Union finance ministers have agreed on emergency measures worth 500 billion euros to prevent Greece's debt crisis from causing turmoil in other euro zone countries.<br /> </p><p><br /> After 11 hours of talks, EU finance ministers agreed on a much bigger financial contribution than in any of their previous deals to calm the financial markets and prevent a Greek debt contagion.<br /> </p><p><br /> The package will be a mix of loans and guarantees with the backing of the IMF, much like the one struck for Greece but just much bigger.<br /> </p><p><br /> European Commissioner for Economic and Monetary affairs, Olli Rehn, said the aid would be triggered according to the EU rules that, in exceptional circumstances beyond a member state's control, the Lisbon Treaty does provide for financial support.<br /> </p><p><br /> He said the current problems were a systemic challenge to financial stability in the euro area and that the threat was not just against one member state but a threat to the stability of the euro-area, as well as the whole of the EU.<br /> </p>
