(PARIS) - European countries have given themselves until Wednesday to decide how much each will set aside to recapitalise failing banks and guarantee interbank lending, the Belgian finance minister said Sunday.

"What we need now is for each country to fix the sum that it wants to put aside. This should happen by Wednesday," Didier Reynders told reporters on the sidelines of talks in Paris to thrash out an economic rescue plan.

As he spoke, the leaders of the 15-nation eurozone single-currency bloc were meeting behind closed doors to thrash out the details of a bank rescue plan. The draft agreement, seen by AFP, contained no cost estimate.

On Wednesday, the 15 nations will meet again in Brussels, this time also with the remaining 12 European Union members that have not adopted the euro.

"I think that this evening there will be a consensus in the eurozone and I hope that on Wednesday the whole EU will agree on two principles: the need to recapitalise banks where necessary, and the need for states to guarantee loans where that can permit liquidity," Reynders said.

"What we're hoping is that in the coming days we can go a step further and say how much in terms of financial means the states are ready to put on the table. I think if all the states announce this, we won't have a true European fund, but we'll know how much we have to restore the financial system."

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