The ministers are meeting 10 days after their heads of government agreed to use the bloc's temporary bailout funds to recapitalize Spain's ailing financial system and to set up a joint supervisory body for the area's lenders.

CNN: Spain may get extra year to meet targets

The ministers from the 17-nation bloc met 10 days after their heads of government agreed to use its temporary bailout funds to recapitalize Spain's ailing financial system and to set up a joint supervisory body for the area's lenders.

CNN: Eurozone ministers agree bailout for ailing Spanish banks