No decisions have been made regarding the final plan in coping with the sovereign debt crisis and reviving the common currency although leaders of Euro nations are believed to be working separately to address these issues separately.

A report from the New York Times said that both Germany and France were still uncertain on whether to pledge their nation's resources in resolving the problems that threaten the global economy.

Despite this atmosphere of uncertainty, stocks still climbed up on Monday due to renewed optimism that a solution to the debt crisis is in sight and strong possibility that a recession in the U.S. will be averted, according to Reuters.

Bloomberg said German legislators are expected to meet today in Berlin to pore over two "leveraging models", one of which would possibly increase the capacity of the European Financial Stability Facility (EFSF) by providing a fraction of the nations' funding requirements while the second seeks to put together capital from European and non-European public and private investors.

The outline of this proposal was presented to German lawmakers by the Institute of International Finance on behalf of private financial institutions.

It proposed a loss of 40 percent on the debt of Greece while the EU has asked investors to forfeit as much as 60 percent with a possible compromise at 50 percent.

Leaders of Euro nations will return to Brussels on Wednesday for another summit to deal with the lingering economic problems.

As far as investors are concerned, they look forward to EU leaders to take more resolute action which apparently was lacking during the previous conferences.

The bottom line is that Banks would be required to raise their reserves by about €100 billion, or $139 billion, for the euro area as a whole.

However, economic analysts observed that the sum is "exceedingly low and is well below what can be considered adequate to remove doubts about the credit standing of European banks and restore their access to international money markets."

The banks want an assurance that Greece will eventually be able to repay its debts without the help of international bailouts.

However, the International Monetary Fund said last week that would very difficult because Greece's economy has deteriorated so much that it might need to rely on international assistance for as long as nine years, the New York Times reported.