Greece won’t exit the monetary union this year, in our judgment. The country’s near-term financing gap is small relative to the size of the financial aid it has received in the past, and the will to keep the union together remains strong.

Greece failed yesterday to secure a quick cash payment from the eurozone rescue fund to help stave off potential bankruptcy next month, raising pressure on Athens to deliver a convincing reform programme within days.

Germany expects talks with Greece to drag on until the current round of bailout funding runs out and is prepared to play a waiting game until April or May, when the country approaches a cash crunch, a person familiar with the matter said.

Government plans for tax cuts and additional expenditure could increase growth this year, the troika says in its review of the country’s economy.

Trinity College professor Philip Lane has joined a chorus of senior figures in criticising the decision not to burn bondholders as part of the 2010 troika bailout, saying the burden of the programme fell unfairly on Ireland.

The repayment period for two multi-billion euro loans to Ireland have been extended by up to seven years.

Germany’s top court probably won’t intervene in the ECB’s plan to buy bonds of crisis-torn countries, in line with previous cases involving the country’s integration with the EU.

European finance ministers are to urge officials in charge of Ireland’s bailout programme to consider a deal to extend repayments.

The head of the eurozone rescue funds, Klaus Regling, signalled he backs easier repayment terms for Ireland and Portugal, saying it may speed their return to financial markets.

The IMF and EU appear to have ironed out their differences over Greece’s bailout and releasing the long-delayed latest instalment to Athens.

A 20-to 30-year deferral of the €28bn in promissory notes relating to Anglo and Irish Nationwide would be the most effective way of restructuring Irish bank debt, according to UCD economist Karl Whelan.

Germany's constitutional court has given the eurozone bailout fund the green light.

The latest EU summit was billed as a game-changer in tackling the financial crisis but there is a lot of horse trading to be done before a full assessment can be made, writes business correspondent John Walsh

An attempt to block to block the eurozone’s permanent rescue fund and Europe’s new fiscal discipline treaty will be heard by Germany’s high court next week.

Ireland is likely to have to tap the eurozone’s new rescue fund once its troika bailout programme runs its course next year.

The euro crisis has moved into a new and arguably much more dangerous phase over the past couple of weeks.

Spain is expected to ask the eurozone for help with recapitalising its banks this weekend, sources in Brussels and Berlin said yesterday, becoming the fourth country to seek assistance since Europe’s debt crisis began.

Cyprus will have to seek bailout funds from the European Union to recapitalise a banking sector pummelled by exposure to Greek debt and must prepare by taking tough steps to shore up its finances, the chairman of the country's second-largest lender said today.

Spain has indicated it could decide this month whether to request a bailout for its troubled banking sector.

THE EU is a voluntary quasi-federation of sovereign and democratic states in which elections matter and each country seeks to determine its own destiny, regardless of the wishes of its partners.

An external consulting firm charged with evaluating the structure of Europe’s new permanent rescue facility has raised questions about whether it will have enough staff to function effectively, according to documents.

Eurozone officials have agreed that each Euro country must prepare a contingency plan to cater for the possibility of Greece's exit from the single currency.

Greece’s four biggest commercial banks are to receive an €18bn cash injection from the European bailout fund.

The burden other eurozone states could bear gives them a powerful incentive to keep Greece in the currency club, writes Paul Carrel

The chances of Greece leaving the euro are growing stronger by the day. So why don’t we know what the next stage is for the eurozone yet, asks Hugo Dixon

Not allowing temporary or permanent bailout funds to directly recapitalise banks directly is a “missed opportunity”, Patrick Honohan, the governor of the Central Bank has said.

Finance Minister Michael Noonan has said that comments made by an IMF spokesperson in an article in today's Sunday Times were misrepresented.

Both Fine Gael and Labour are insisting the upcoming referendum on the EU Fiscal Treaty will not become a vote on the Government's performance.

A deal on the Anglo Irish Bank promissory note could be reached as early as mid-May.

Discussions are believed to be under way between the Government and officials at the European Financial Stability Facility on a possible way of reducing the cost of Ireland’s bank debt burden.

In the final part of our three-day series, Caroline O’Doherty says China’s influence is growing across the world but its leadership is increasingly aware of the need to pick its corporate battles carefully

The Government is in no rush to get a deal on restructuring the €31bn promissory notes, preferring to leave it until later in the year, Finance Minister Michael Noonan said.

Eurozone finance ministers put off taking the final step to agree the second Greek bailout, but the next week will be vital as 90% of private investors need to agree to the bond-swap that will cut Greek debt by €109bn.

The leaders of the 17 countries that use the euro have delayed a decision on whether to give their bailout funds more firepower until later in March, European officials said today.

The International Monetary Fund has approved the payout of another €3.2bn in loans to Ireland.

The German parliament yesterday approved a second, €130bn loan package for Greece after Angela Merkel, the chancellor, warned lawmakers that it would be irresponsible to abandon the country to bankruptcy.

Ratings agency Fitch has cut Greece’s long-term ratings to its lowest rating above a default, becoming the first ratings agency to make the widely expected downgrade after the country announced a bond exchange plan to ease its massive debt burden.

The latest Greek bailout is a once-off and holds nothing for Ireland in terms of cutting the cost of its debt, junior minister Brian Hayes and EU officials insisted last night.

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.

China has a stake in helping eurozone countries get through their debt crisis, said Chinese Premier Wen Jiabao yesterday, pointing to Europe’s importance as a market and hinting at more possible support for beleaguered exporters.

European officials will push on today with a long-term plan to tackle the region’s debt crisis, as banking and government negotiators zero in on a deal that will lighten Greece’s debt burden.

THE combined capacity of the eurozone’s permanent and temporary bailout funds will remain at €500 billion for now, but will be reviewed in March and may be raised by the permanent fund’s board of governors once it is operational, according to a draft treaty.

DOWNGRADING of France as a triple A credit rated state can usher in a new phase in the eurozone crisis.

Europe's bailout fund will attempt to auction off €1.5bn in short-term debt later today.