Two of the EU’s most high-ranking officials have warned of the danger of the eurozone disintegrating and emphasised the need for immediate new structures.

Irish banks need to raise up to €4bn, preferably from the market, to meet international capital requirements, Financial Regulator Matthew Elderfield said, as the European Commission warned that bank deleveraging plans may be at risk.

The European Commission has given it’s strongest signal so far that it believes Ireland could need a second bailout and that the banks could need more funds.

Just as the news coming from Athens augured a little better for the future of the eurozone, the word from Madrid plunged the future of the embattled currency back into doubt.

Eurozone finance officials have been told to study what a possible Greek exit from the eurozone would mean for their economies, according to diplomats.

The eurozone crisis poses the single biggest risk to the global economy, with cutbacks in countries hardest hit by the crisis particularly vulnerable, the OECD warned.

If tax on Irish workers was increased to the EU average, the Government would not have to borrow to run the state each year, a thinktank claims.

Taoiseach Enda Kenny stood firmly behind Richard Bruton despite his gaffe that could cost the Government votes in the fiscal treaty referendum.

The dream of a Europe-wide free travel scheme for senior citizens has been shot down by Tourism Minister Leo Varadkar, who said there was no such thing as “free travel”.

All €3 billion raised from the sale of state assets will be used to fund job creation following extensive negotiations with the Troika, said Reform Minister Brendan Howlin.