BRUSSELS (AP) -- The European Union presidency says EU nations have agreed to double funds meant to bail out struggling member states to €50 billion ($68 billion).
Czech Prime Minister Marek Topolanek, whose country holds the EU presidency, says EU leaders approved the boost at a summit in Brussels.
He says the money is meant for "countries that are particularly hit by the crisis" and that do not use the euro currency.
Hungary and Latvia have already received €9.6 billion from the fund, which raises money by selling bonds. Romania is now also seeking a bailout from the EU and the International Monetary Fund.
Other countries may also need help as the economic crisis slashes tax revenue and hikes public debt.
Germany initially opposed a higher threshold for the emergency fund.
