Prime Minister Julia Gillard says European leaders should be taken at their word that they will act to restore bank stability and fuel stronger economic growth.
Speaking at the end of the first day of the G20 leaders' summit in the Mexican tourist city of Los Cabos, Ms Gillard said she was confident European leaders would act to maintain the integrity of the eurozone and that a "clear" statement would be made by the G20 on Tuesday.
It was in Australia's interest and the interests of the world to see stability in the eurozone.
"Eurozone leaders including (German) Chancellor (Angela) Merkel are very clear about their determination to see the integrity of the euro zone continue," Ms Gillard told reporters.
"Actions have been taken, (but) ... it is transparent to us all that more needs to be done."
A working draft of the final communique refers to a commitment by all G20 countries to "adopting all necessary policy measures to strengthen demand, support global growth and restore confidence".
It is understood the G20 leaders will confirm the doubling of International Monetary Fund resources to $430 billion in loans and each country will spell out - through a "Los Cabos Action Plan" - measures it will take to address growth and jobs while rebalancing its budget.
While Australia outlined its $7 billion IMF commitment at the Cannes summit in 2011, other nations left it until Monday to do so, including China which announced $43 billion, South Korea ($15 billion) and Brazil ($10 billion).
US President Barack Obama was in meetings with European leaders late on Monday night to talk about paving the way for financial union across the eurozone, greater risk sharing on recapitalisation and deposit insurance, and support for the new Greek government in reforming its economy.
Several sources said the G20 statement could include comments on support for demand and job growth through the idea of project bonds and strengthening the European investment bank.
Ms Merkel has rejected calls for joint euro zone bonds and the creation of a "banking union" with cross-border deposit guarantees, warning they could fail in the courts.
She wants the European parliament to exercise more control and is advocating a five to 10 year "roadmap" approach.
European leaders will get their chance to discuss it among themselves at a summit on June 28 and 29.
Tuesday morning's talks will focus on trade, with a standstill on protectionist measures across the G20 nations expected to be extended for another two years to 2015.
European chiefs hit back on Monday against criticism from a number of countries including Australia that the group of nations was moving too slow on reform.
"We are extremely open and we are engaging with our partners, but we certainly are not coming here to receive lessons from nobody," European Commission president Jose Manuel Barroso told reporters.
Ms Gillard said Mr Barroso had laughed when told of the fuss being made about his comments in Australia.
"He expressed surprise his name was being bandied around in Australia," she said, adding that he had not directed his comments at Australia.
Ms Gillard held talks with Italian Prime Minister Mario Monti and International Monetary Fund chief Christine Lagarde on the sidelines of the G20.
Ms Lagarde praised Australia for being among the first nations to commit to extra IMF resourcing.
British Prime Minister David Cameron told a business leaders' forum attended by Australian business chiefs that the eurozone faced "perpetual stagnation or break-up" and warned against "muddle-headed thinking".
"There can be no room for timidity ... no backsliding," Mr Cameron said.
Ms Gillard joined Mr Cameron and Canadian leader Stephen Harper to launch a $100 million program to improve food production in poor countries, including a $20 million contribution from Australia.