European Union (EU) leaders are considering a further boost of the 27-nation bloc's crisis fund to bail out Eastern European members hard hit the financial crisis.

The EU "should rapidly examine the possibility of increasing the ceiling for the union's support facility for balance-of-payments assistance," according to a draft document to be discussed by EU leaders at their summit on Thursday and Friday.

EU leaders agreed in December to double the ceiling of the EU's medium-term financial assistance facility to 25 billion euros (US$32.5 billion).

The facility was designed to help member states outside the euro zone stabilize their economies. So far, Hungary has drawn 6.5 billion euros (US$8.5 billion) from the facility and Latvia used 3.1 billion euros (US$4 billion).

Romania became the latest EU country that was forced to seek outside assistance due to the financial crisis. It said last week it had asked for help from the EU and the International Monetary Fund (IMF).

With more and more members in Central and Eastern Europe running into financial and economic trouble, there is a call for the EU to have more funds ready to provide emergency aid.

(Xinhua News Agency March 17, 2009)