The Guardian reports that pressure on crisis-struck Greece has increased after international debt inspectors uncovered a new €15bn hole in the country's finances.

According to the paper, officials in Brussels said European countries and state-owned banks would be asked to contribute to help Greece, as Athens discussed a deal with private sector creditors aimed at writing down debts of €100bn.

The news came as Ireland cut its growth forecast and Spain's finance minister Luis de Guindos demanded that the country's banks raise an additional €50bn to cover toxic assets.

Meanwhile, the Wall Street Journal reports that Chinese premier Wen Jiabao said Beijing is considering deeper involvement in the eurozone's bailout funds, in the strongest indication yet that China may mobilise its huge foreign exchange reserves.

The paper says that Wen stopped short of offering firm commitments to increase China's investment funds and stressed that Europe must address its own problems.

The New York Times says, if it were to contribute, China would funnel its money through the IMF and Europe's leaders expect Beijing to demand some political or trade concessions in exchange.

Deutsche Welle reports that German chancellor Angela Merkel, who is on an official visit to China, has also being pushing for Chinese political support over the EU's sanctions against Iran and a UN resolution condemning the violence in Syria.