Romania, Latvia and Estonia could get new EU funding

Romania, Latvia and Estonia could all be in for extra funding after the EU agreed a package aimed at supporting non-eurozone countries.

Under the terms of a deal thrashed out by political leaders in Brussels, member states who have not adopted the single currency will be able to draw on a pool worth €50 million (£47 million) if they appear to be close to defaulting on their public debt.

As well as this, the politicians agreed to increase the amount of cash offered to the International Monetary Fund (IMF).

British prime minister Gordon Brown said: "We've agreed the balance of payment support of €50 billion, we've agreed to support the IMF with loans of up to around $100 billion (£69 billion) as well as agreeing our own €5 billion fiscal package."

Recently, Reuters reported that Romanian president Trainan Basescu has revealed that the country is looking to take a €20 million loan from the IMF and EU in order to help it through the economic downturn.