Germany signalled it would be ready to adjust the Irish and Portuguese programmes once the second bail-out deal for Greek is finalised.

“Going back into the dark.”

Farmers have been warned to be on the look-out for a new virus affecting mainly sheep, but also cattle and goats across Europe.

Eurozone finance ministers will meet in Brussels this evening, when they expect to finalise details for a second bailout for Greece together with cuts on bondholders that will trigger a temporary selective default.

Cuts in education budgets risk undermining the economy’s growth potential, the EU has warned Ireland as the country moves closer to the bottom of the international league table in spending on schools.

Greek prime minister Lucas Papademos was yesterday shuttling over and back between the troika, the creditor banks and political party leaders desperately trying to conclude a deal on new austerity measures.

Ireland received a clear warning that it must spend more on research and its SMEs must be much more progressive if it is to create the kind of jobs and growth needed to emerge from the crisis.

Ireland’s case for refusing to support a financial transactions tax unless it was global has been undermined by a study from two eminent economists presented to the European Parliament.

Tensions increased across the eurozone and globally as negotiations on Greek debt and cutbacks reached a critical point, amid fears that the country could default.

Denise McDonagh could become the flyers’ best friend after this week’s hearing in the European Court of Justice.