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.

Irish SMEs have secured more than 20% of the EU’s research funding going to the country, making them the fourth most successful in the union so far.

China is considering increasing its participation in the rescue funds aimed at resolving the European debt crisis.

Ireland will target winning at least €1 billion for scientific research from the EU’s fund, and a conference to launch the bid will be held in Brussels next year.

There appeared to be just one row on the horizon as final adjustments were being made to the eurozone’s fiscal treaty before it goes to EU leaders on Monday.

People will have the right to remove and change information on the internet as part of a complete overhaul of data protection and privacy rules.

Finance Minister Michael Noonan has appealed for the EU to slow down the process of putting a financial transaction tax in place, saying he was not willing to participate if the legislation was pushed through on a fast-track basis.

As Athens is caught in the middle of a game of brinkmanship with its creditors, the EU warned they wanted new reforms even before they sign up to the second bailout and its austerity programme.