Baku, September 14 (AZERTAG). As finance ministers from around the Euro-zone are meeting in Cyprus today, the pressure is increasing on Spain to ask for additional help. The ministers are likely to discuss the conditions for a country to receive help from the ECB`s Outright Monetary Transactions bond purchases. Spanish officials have previously said that they would like to know the conditions of the ECB`s help before they will consider asking for the aid. Spain`s Finance Minister said this morning that meeting deficit targets and reforms are the county`s top priorities.

Other finance ministers weighed in on the situation in Spain. Dutch Finance Minister De Jager said that Spain is on the right way, but he added that conditions will be attached to ECB bond purchases. Other points of discussion at today`s meeting are likely to be the banking supervisor proposed by the EU and Greek aid, to which the Austrian finance minister said Greece should receive more time but not more money.

Following yesterday`s QE3 announcement, the PBOC said that the easing could raise global inflation risks and may push up commodity prices. However, Australia`s treasurer Wayne Swan said the country`s resource boom will continue even after commodity prices have peaked, due to current investments in mining and energy products.

In Japan, the government lowered its assessment for future growth due to deceleration in the world economy, saying that the recovery seems to have paused. Finance Minister Jun Azumi said the country is ready to counter gains in the Yen that could hurt exports. Furthermore, the dispute over the abandoned islands in the East China Sea could lead to a 20% decline in Chinese tourism to Japan, according to the Japan National Tourism Organization.

In the European session, besides for the results from the meeting of Euro-zone finance minister, traders should watch for the release of the Euro-zone CPI at 09:00 GMT, 2.6% annual inflation rate expected.