BRUSSELS (AFP) - Main points of a 750-billion-euro bailout package for the eurozone, announced Monday by EU finance ministers.

• Swedish taxpayers 'not willing' to bailout Greece

-- Creation of a new eurozone stabilisation mechanism composed of two elements.

1. European Commission loans from a new pot of 60 billion euros which may be given to eurozone nations in difficulty.

The commission will borrow on the markets with a guarantee from the community budget.

The legal basis for the new mechanism is found in a European Union treaty article which allows for financial assistance to a member state in difficulty caused by "exceptional occurences beyond its control."

The 27 EU finance ministers agreed that "such difficulties may be caused by a serious deterioration in the international and financial environment," thus opening the way for the unprecedented loan vehicle. Previously such loans have only been available to non-eurozone nations.

The mechanism will be activated along with "strong economic policy conditions" meaning beneficiary nations would have to submit to extra belt-tightening measures.

2. A system of loans and guarantees of up to 440 billion euros.

A special body will be created to borrow on the markets; a "Special Purpose Mechanism" guaranteed by eurozone nations in line with their participation in the European Central Bank's capital. Voluntary contributions could come from outside the eurozone from such countries as Sweden and Poland, according to French Finance Minister Christine Lagarde.

-- IMF participation

The International Monetary Fund will also participate, providing "at least half as much as the EU contribution," so anything up to 250 billion euros.

-- Exceptional ECB measures, backed by other key central banks around the world.

The European Central Bank separately announced its own exceptional measures.

The Frankfurt-based institution said in a statement on its website that it would "conduct interventions in the euro area public and private debt securities markets."

It said these were justified by "exceptional circumstances," and further announced "temporary liquidity swap lines with the (US) Federal Reserve."

Traders and analysts have been busy calling for the bank to enact a "nuclear" option, agreeing to buy euro countries' bonds or accepting toxic eurozone government debt as collateral.

Central banks in Canada, Britain, Switzerland and the United States are also to intervene to ensure that dollar shortages do not occur in European markets, the ECB said.

-- Spain and Portugal to speed up the reduction of their public deficits

The finance ministers agreed that the two countries' budget consolidation measures should be accelerated this year and next.