EU leaders are holding another set of talks following the Brussels summit hopefully to design a comprehensive package for Greece that will pull it out of the doldrums.

Prime Minister George Papandreou has reiterated his call for the ultimate solution to the debt crisis that has hounded his country after key euro officials met to devise a new assistance program for Greece.

Bloomberg released accounts that the present economic collapse resulted in an overhaul of a previous accord made in July on a new international rescue that predicted a 21 percent loss for bondholders.

That program was supposed to amount to 159 billion euros ($220.5 billion), including 50 billion euros from banks through debt swaps and rollovers, Bloomberg added.

Euro-area leaders are scheduled to reconvene on Oct. 26 to continue work on the new bailout for Greece and determine solutions that would enhance the rescue fund for the whole region.

The original bailout in May 2010 was 110 billion euro in loans, including 80 billion euro from euro-area governments and 30 billion from the International Monetary Fund (IMF).

In the meantime, the EU has discounted the possibility of resorting to the European Central Bank to enhance the region's rescue fund and outlined plans to aid banks, moving toward a new strategy to control the debt crisis.

Bloomberg also mentioned that the waning finances of Greece has left little room for Europe to fight the contagion, which threatens to throw the country into default, shake the banking system, infect Spain and Italy and tip the world economy into recession.