"I think it's been a positive discussion, " said Joaquin Almunia, the European commissioner for economic and monetary affairs.

CNN: EU raises bank deposit guarantee

Olli Rehn, European Commissioner for Economic and Monetary Affairs, said today that he thought the European economy may be bottoming out.

FORBES: It's Official: The Eurozone is in Recession

Already, European Commissioner for Economic and Monetary Affairs Olli Rehn has suggested that Spain could be given more leeway to meet strict budget targets if the Spanish economy continues to contract.

FORBES: EUR Strangled By Vanilla Options And Shallow Pullbacks

Back in February, the European Commissioner for Economic and Monetary Affairs told the Financial Times that measures being proposed to tame the financial sector would work, ie, they would produce a tamer sector that would drive less growth.

ECONOMIST: European politics