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European finance ministers will on Tuesday be given the fine-print of a eurozone plan to rescue Greece with billions of euros in crisis loans if budget surgery hits complications.

The money, to be released on high interest rates by all 15 of Greece's partners in the euro currency area if so ordered by leaders of the 27 European Union nations, is designed to buffer the currency from market attacks.

Officials were tight-lipped late Monday on details of the loans, which would only be granted if Brussels auditors fear negative economic jolts, amid a Greek climate of protest, risk blowing Athens significantly off course despite drastic cutbacks.

"We have clarified the modalities that will allow us to take coordinated action," said Luxembourg Prime Minister Jean-Claude Juncker, who formally leads the Eurogroup countries in financial matters, after five hours of talks.

The plans would involve bilateral aid, not loan guarantees, although preparatory work on "technical details" to ensure the aid fulfills bloc treaty obligations that ban a straight eurozone bailout will take weeks, he said.

Nonetheless, Juncker insisted that future gaps in Greek public finances could be plugged "rapidly" if required. A Brussels summit gathering the 27 national leaders next week could greenlight the mechanism on a standby basis.

Juncker was at pains to repeat that the Greeks "have not asked for aid" and said the ministers "still don't think it will be necessary."

But a Eurogroup statement said the "objective would not be to provide financing at average euro area interest rates, but to safeguard financial stability in the euro area as a whole."

It would aim to "provide strong incentives to return to markets as soon as possible," meaning high rates.

The Greek economy is groaning under 300 billion euros (410 billion dollars) of debt, and is looking to raise 54 billion euros this year just to finance the debt -- but is struggling to do so without paying premium interest rates.

European diplomatic sources have spoken of 20-25 billion euros being sought through eurozone aid.

Juncker added that the trigger for action would most likely be "the impression, in spite of the Greek government's efforts, that markets do not react in an adequate manner."

Economic and Monetary Affairs Commissioner Olli Rehn said the instruments envisaged were "consistent with treaty and national law" but that it was "not the time to refer publicly to the technical terms."

Rehn reiterated the commission's belief, shared by the eurozone ministers, that Greece was on track to cut its annual budget deficit this year by four percentage points, from a huge 12.7 percent of national output.

Greek austerity measures have been met by a series of protests and strikes there in recent weeks.

The German government has been hawkish on the issue, and Finance Minister Wolfgang Schaeuble went as far as to warn on Monday that countries could eventually be kicked out of the eurozone if they did not adhere to tighter restrictions in future.

"We need stricter rules -- that means, in an extreme emergency, having the possibility of removing from the euro area a country that does not get its finances in order," he was quoted as saying.

The Brussels talks took place against growing tension between Berlin and Paris on economic policy.

Fundamental differences were exposed when French Finance Minister Christine Lagarde accused Germany of trying to boost trade at the expense of eurozone partners by squeezing salaries and pushing exports.

Lagarde said she was "not sure" Germany's strategy was "a sustainable model for the long term and for the whole of the (euro) group."

Her stance appeared to gain some backing from Rehn, who said that "countries with current account surpluses should invite structural reforms that enhance internal demand."

Despite such tensions within the EU, Berlin and Paris are collaborating to rein in Credit Default Swaps -- the lucrative trade in complicated insurance against slices of debt default risk -- which Athens has complained drove it deeper into the debt quicksand.

AFP