Slovakia’s president is cutting short a trip to Asia to return home to help solve a political crisis after parliament refused to endorse more powers for an EU bailout fund and the government collapsed.

THE EU and member states stand to make least €9 billion in profit from the interest they are charging on Ireland’s bailout loans.

British Prime Minister Gordon Brown is mounting a defence of the City of London against plans for legally-binding EU financial supervision in the wake of the economic crisis.

European Commission President Jose Manuel Barroso today stepped up pressure for an EU summit deal this week on sweeping EU supervision of banks and financial bodies.