The reduction in labour costs in Ireland has been described as “remarkable” by the European economics commissioner Olli Rehn, who said further falls were expected this year and next.

When Irish finance ministers are smiling

Growth the buzzword in PMs’ graveyard

The likelihood of Ireland having to hold a second referendum on the fiscal treaty has been cut by the announcement the man tipped to be the next French president will seek an addition to the document rather than reopen it.

ECB president Mario Draghi has not shut the door on agreeing to help ease the burden of the €31bn Anglo Irish Bank promissory note bill.

Countries must persevere in their structural changes and deficit reduction, but they also need a growth compact now and must plan for economic union in the next 10 or 15 years, ECB president Mario Draghi has said.

Next year’s EU budget of €138bn includes an increase of 6.8% because of the massive, last-minute bills it is receiving from member states for spending on areas such as agriculture, research and other EU policies.

Labour costs in Ireland have fallen for the third year in a row, bringing costs to employers into line with the EU average for the first time in years.

Markets calmed yesterday as investors’ concerns eased a little about the uncertainties created by potential changes in the French and Dutch governments.

Diesel exemption from carbon tax upheld