The head of the Organisation for Economic Co-operation and Development (OECD) has said that the eurozone needs to double its bailout fund to 1 trillion euros ($1.3tn, £836m).
Angelo Gurria said the eurozone must show investors they have the "firepower and by God... I'm going to use it".
But German Chancellor Angela Merkel said that she would favour only a temporary increase to 700bn euros.
Some fear that the fund could not cope with another bailout.
So far, Greece, Republic of Ireland and Portugal have been bailed out.
Most recently, Greece was granted its second bailout of 130bn euros after passing some harsh austerity measures and forcing bondholders to write off half of its debts.
But - despite some calming of financial markets over the past few months - some still fear that large countries like Spain and Italy will also need to be bailed out.
"The mother of all firewalls should be in place, strong enough, broad enough, deep enough, tall enough," Mr Gurria said.
The Bank of Spain on Tuesday confirmed that the Spanish economy had fallen back into recession. It contracted again in the first quarter of 2012, the central bank said, after shrinking 0.3% in the three months to December.
The recession was blamed on a decline in private spending in January and February - down to levels not seen since 2010.
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