European Commission President Jose Manuel Barroso insisted today that the euro currency and the "European project" are both irreversible.
Ahead of this weekend's Greek election, which could determine the fate of the eurozone, he said EU leaders would "stay the course" in the midst of the crisis.
Speaking ahead of Monday's G20 summit, Mr Barroso said:
We are determined to show the world that the euro and the European project are irreversible.
We will leave no doubt that the European Union remains determined and will take every action needed to stay the course, defending stability and fostering growth that will be beneficial to all.
The Euro zone is waiting to see whether Germany will open its cheque book again for Spain, and if it does, whether this will actually help.
Distress calls went out from the Spanish Government about the future of the Eurozone - after Spain's borrowing rates hit an alarming 7%.
The cost for the Spanish government to borrow has hit 7 percent today - the level at which Portugal and Ireland asked for a bailout.