Eurozone countries need to put more money in their rescue fund before G20 nations can step in to help them, the G20 finance ministers have said.

They said such a move was “essential” to their decision to provide more resources to the International Monetary Fund (IMF) to help the region.

Earlier this month, eurozone leaders set up a permanent bail-out fund of 500bn euro ($673bn; £420bn).

There are concerns the fund may not be able to rescue a deeply indebted state.

“We have to see the colour of the eurozone’s money first – and quite frankly, that hasn’t happened,” the British chancellor George Osborne said.

“Until it does, there’s no question of extra IMF money from Britain or probably anyone else.”