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Spain's Socialist government admitted for the first time that it will miss its 2011 economic growth target, just four days before an expected election drubbing.
Eurozone finance ministers will review progress on the Greek bailout program on Monday, but Germany is urging more reforms.
Italian Finance Minister Giulio Tremonti headed into emergency talks with eurozone chief Jean-Claude Juncker amid fresh worries of Europe's sovereign debt crisis engulfing Italy and Spain.
Sarkozy says it had been an error to admit Greece to the eurozone in 2001 but he was confident the country could emerge from its debt crisis.
Eurozone partners put back a decision on whether to resume bailout funding for Greece, but categorically ruled out any chance of a debt default.
The European Central Bank has disappointed markets hoping for dramatic action to tackle the eurozone debt crisis that claimed Ireland as its most recent victim and now threatens Spain.
Here are some basic economic figures for Greece, after eurozone ministers approved a second bailout package for Athens.
Germany says the amount of a eurozone bailout for Cyprus would not rise after the debt-laden island state's president said he would appeal for extra assistance.
As the new year is rung in, Latvia becomes the latest member of the eurozone, despite half the country being opposed to adopting the euro.
The International Monetary Fund said the global economic recovery was gaining traction, but highlighted risks from the eurozone financial crisis.
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