Finance ministers of the 17-nation euro zone have agreed to increase the European Financial Stability Facility to stop the spread of the European fiscal crisis.

In a meeting in Brussels on Tuesday, the ministers agreed to allow the euro zone bailout fund to guarantee 20 to 30 percent of potential losses of investors who buy bonds of troubled governments in the euro zone.

In addition, the finance ministers agreed to seek an increase of the resources of the International Monetary Fund (IMF) through bilateral loans so that the IMF can match the leveraged capabilities of the euro zone's bailout fund.

However, the ministers did not present specific methods and scope of the increase of the EFSF fund.

Last month, EU leaders agreed to expand the bailout fund from the current 440 billion euros to one trillion euro.