LOS CABOS, Mexico - The leaders of the world's major economies embarked on the final day of the G20 summit Tuesday determined to kickstart growth and pull the eurozone back from the brink of disaster.

European members were under extraordinary pressure from their international counterparts to loosen the straitjacket of their austerity programs and to allow the European Central Bank to open the lending floodgates.

Beyond the summit conference center in the Mexican resort of Los Cabos, bond markets jacked up rates on Spanish and Italian debt amid self-fulfilling fears that the debt crisis that sank Greece was spreading once again. Germany's Angela Merkel remains the driving force behind the eurozone's determination to privilege austere deficit busting over stimulus spending, although US officials say her position is softening. "Discussion here has been balanced: we need the right mix of consolidation and growth stimulus at the same time," Merkel told reporters on Tuesday, saying the previous night's showpiece dinner had been a "very frank and honest exchange."

A draft version of the G20 final statement, which was to be finalized and published by the leaders on Tuesday, suggested that a formulation would be found that would commit the leaders to a pro-growth agenda. "All G20 members will take the necessary actions to strengthen global growth and restore confidence," it said, vowing that eurozone members would safeguard the stability of the single currency in the face of volatile markets.

The version seen by AFP allowed no hint that Merkel or her allies might crumble and allow the ECB to pump out cash or to pool German debt with that of the weaker eurozone members in order to create low-interest eurobonds. But it opened up the possibility of more lending and spending if the European economy continues to struggle.

IMF chief Christine Lagarde thanked emerging powers, led by China, for pledging enough to bring her pool for emergency loans up to $456b in exchange for a greater say in Fund affairs.

China and the emerging economies pledged huge sums to the Int’l Monetary Fund's global firewall Monday, helping it raise $456b in resources as the eurozone crisis rages. In a clear statement of their new force in the world economy, rising economic powers brought some $95.5b in new money to the table for the IMF during the G20 summit in Mexico, pushing it beyond its $430b target.

But the money also came with a warning that things had to change at the Fund, long dominated by the now troubled economic powers of Europe and the United States, which itself has not contributed to the firewall.

In an announcement late Monday, the IMF said China was offering $43 billion, Brazil, Russia, India and Mexico $10 billion each, $5 billion from Turkey, and smaller sums from a handful of other up-and-coming economies.