A new permanent bail-out fund for the Euro Zone will come into force later today at a meeting of Euro Zone Finance Ministers in Luxembourg. The European Stability Mechanism (ESM) is designed to support faltering economies and banks within the single currency. By 2014, the fund will have a full lending capacity of 500 billion euros.The Euro Zone countries will make the first capital payments into their new rescue fund this week. Germany, as the largest economy, will contribute about 27 per cent, followed by France and Italy. By 2014, the ESM is likely to reach its full lending capacity of 500 billion Euros. Critics, however, believe that it is still not big enough.