German Finance Minister Wolfgang Schaeuble is scheduled to meet his U.S. counterpart Timothy Geithner Monday amid escalating worries over the eurozone debt crisis.

Schaeuble and Geithner will meet on the famous holiday island of Sylt on the North Sea, to hold informal talks about possible solutions, Finance Ministry spokesperson Marianne Kothe said.

Geithner will also fly to Frankfurt to meet European Central Bank (ECB) President Mario Draghi, who has said the ECB should do "whatever it takes" to restart bond-buying and prevent the common currency from falling apart.

Geithner's visits have raised speculation that the U.S. will press Germany to take bolder action in bond markets to control the rocketing borrowing costs of Spain and Italy.

German government spokesperson Georg Streiter on Monday said, "All parties want to send a very strong signal for the euro," adding that the German government had full confidence in the ECB.

Streiter reiterated the German stance of not accepting any motion to pool together the sovereign debt of the common currency with joint bonds at this stage.

In telephone conversations over the weekend, German Chancellor Angela Merkel, French President Francois Hollande and Italian Prime Minister Mario Monti jointly vowed to "do everything to protect the eurozone."