Hungary has agreed to change its controversial media law to meet all EU legal requirements, a major breakthrough in a high-profile row that overshadowed the start of the country’s EU presidency.

Sebastian Vettel remains "optimistic" of being crowned Formula One world champion this season despite a remarkable statistic counting against the young German.

Europe will have to get used to high oil prices and keep a sharp eye on inflation, EU Economic and Monetary Affairs Commissioner Joaquin Almunia has warned.