Eurozone finance ministers have met in Brussels to discuss Greece's attempts to seek a bail-out from fellow eurozone nations to try to reduce its public deficit.
Jean-Claude Juncker, the head of the 16-nation eurozone, said Greece could unveil more cost-cutting proposals if its current efforts do not work fast enough.
Mr Juncker said the country had agreed to outline additional measures in March if necessary.
EU Commissioner for Economic and Monetary Affairs, Olli Rehn, said there was a critical lesson to be learnt from Greece's situation.
"We urgently need broader and deeper surveillance of national economic policies in the euro area", said Mr Rehn.
"With this goal in mind, the commission will soon come forward with proposals to further strengthen the coordination and surveillance of national economic policies within the euro area," he added.
One-Minute World News 
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