Finance ministers and central bankers from the world's 20 biggest economies say they have agreed to take swift action to resolve Europe's debt crisis, which is hurting global economy. After two days of deliberations in Paris, which ended yesterday, French Finance Minister Francois Baroin announced that the eurozone will finalize its plan at a European Council meeting in Brussels October 23. He said France and Germany, Europe's key economies, have come close to an agreement on how much of a loss private investors will have to take on Greek bonds. Reducing Greece's debt to a more sustainable level is emerging as a key element in resolving the eurozone crisis. The heads of state of G20 nations are expected to give the final approval to the plan at a summit next month in Cannes. The plan will include concrete steps each country needs to take in helping solve the financial crisis. European leaders are pressing the continent's banks to sharply increase their cash reserves to cover possible losses on the debt they hold from Greece and other countries. US investment bank Goldman Sachs suggested the European banks may need to add more than 400 billion Dollars to reserve accounts.