EU finance ministers cancel Wednesday meeting

BRUSSELS Tue Oct 25, 2011 10:19am EDT

BRUSSELS (Reuters) - European Union finance ministers have canceled a meeting set for Wednesday but the summit of EU leaders and of the euro zone leaders will proceed as normal, an EU spokesman said on Tuesday.

The EU finance ministers meeting, known as an Ecofin, was canceled because the details of issues to be discussed at the meeting have not been finalized, sources told Reuters.

Poland, which holds the rotating EU presidency until the end of the year, is responsible for organizing Ecofins and was responsible for deciding to cancel Wednesday's meeting.

Euro zone financial officials will still meet ahead of the summit, the EU spokesman said, and Ecofin may also meet in the coming days to work on the details of whatever euro zone leaders agree on Wednesday night.

"Ministers of finance may meet in the coming days to fine-tune decisions that will be taken tomorrow," said the spokesman for Herman Van Rompuy, the European Council president. "There is no new summit planned."

EU leaders will meet tomorrow to finalize details of a plan to tackle the debt crisis, including proposals for steeper losses for owners of Greek bonds, a recapitalization of European banks and extending the firepower of the 440 billion euro European Financial Stability Facility.

(Reporting By John O'Donnell)