IMF promises decisive action for eurozone debt crisis

In a communique on Saturday, the global lender said it would review the resources it had available to tackle the crisis. The statement added that eurozone nations would do "whatever necessary" to resolve Europe's debt crisis.

However, it did not give specifics on whether extra funds would be available to the global fund.

"Our lending capacity of almost $400 billion looks comfortable today but that pales in comparison with the potential financing needs of vulnerable countries and crisis bystanders," said IMF managing director Christine Lagarde in an action plan presented to the fund's policy steering panel.

The IMF's statement also called for governments to take steps to shore up the banking system.

Banks holding large amounts of European sovereign debt have come under pressure from investors concerned about losses if those debts are not repaid. "Advanced economies will ensure that banks have strong capital positions and access to adequate funding," said the communique.

The IMF, it said, would develop mechanisms to assist troubled financial institutions working across national borders.

In Europe, the main share indexes in London, Paris and Frankfurt all fell about 4% over the week.