Ireland should make more use of the European Investment Bank in the battle to get more credit flowing to private enterprise and the SME sector, in particular, according to Department of Finance chief John Moran.

The eurozone is heading towards a break up unless there are moves towards much closer political and fiscal union, according to chief economist with State Street Global Advisers, Chris Probyn.

Progress on establishing a European banking union is uneven and stalled in some areas, but it is necessary for the European Stability Mechanism (ESM) to recapitalise banks and overcome eurozone tensions, deputy governor of the Central Bank, Stefan Gerlach said yesterday.

The debt crisis in some member states of the European Monetary Union shows once more how closely related bank crises and sovereign debt crises are.

Wolfgang Schäuble is Europe’s most experienced frontline political leader and little happens in the EU without his say so. His championing of the newly agreed banking union puts his reputation on the line, writes Kyran Fitzgerald

The benefits for the Irish economy and banking system from a European banking union will far outweigh any potential downsides, the former government adviser Alan Ahearne has argued.

With Germany in charge, Europe is being split between creditors and debtors, writes George Soros

The deal agreed between the 17 leaders of the eurozone in Brussels during the early hours of yesterday is welcome, even though its specifics have yet to be agreed.

Raising the stakes in Europe’s debt crisis, Austria’s finance minister said Italy may need a financial rescue due to its high borrowing costs, drawing a furious rebuke from the Italian prime minister.