Eurozone finance ministers remain locked in talks aimed at resolving a serious disagreement about a third Greek bailout.

Negotiations on the Greek plan broke down completely last night with pressure due to mount today as EU leaders gather in Brussels.

Europe was scrambling to pick up the pieces after another failed meeting over Greece’s bailout which reinforced fears that the country was heading for bankruptcy and euro exit.

Greek prime minister Alexis Tsipras has called on his fractious Syriza party to rally behind the government as time runs critically short to unlock funding from international lenders and avert a debt default.

A millionaire former telecoms executive touted as a technocrat capable of rescuing Finland from economic slump won yesterday’s parliamentary election, polls showed late last night, but he may need support of a Euro-sceptic populist party to form a coalition.

Finland came a step closer to losing its top credit grade at Fitch Ratings as divisions within the government led to a failure to stem the growth of public debt.

European Union (EU) leaders met today to seek solutions to two major challenges - how to jump-start sluggish economic growth at home and how to deal long-term with Russia.

The risk of a lurch to the right in May’s European elections is vexing global chief executives, who worry the vote will make the bloc harder to govern just as they want it to reform.

Bailout exit a big boost to Kenny’s CV

The Cypriot crisis brought two stark facts into relief as the EU, ECB, and IMF last night battled to conclude a deal that met all its demands for a €10bn bailout that looks increasingly doomed.

FRANCE blazed a diplomatic trail as it recognised a newly formed Libyan opposition group, drawing the ire of other European nations for stepping out on its own even as the situation in Libya remained unclear.

THE EU was split over its response to the violence in Libya, with several countries warning against taking sides while others demanded stronger measures, including sanctions against Muammar Gaddafi.

European Union foreign ministers appealed to Moscow today to follow through on commitments to withdraw its forces from Georgia under a ceasefire plan.

America warned Russia today not to try to redraw the map of Europe in the wake of its invasion of Georgia.

US secretary of state Condoleezza Rice is expected to push Nato allies today to cut back top-level meetings and military co-operation with Russia unless Moscow sticks to its ceasefire pledge to withdraw troops from Georgia.

RUSSIAN jets staged raids and its forces moved deeper into Georgian territory yesterday as Russian prime minister Vladimir Putin denounced the US for helping Georgia.

Russia invaded Georgia today sending forces beyond the two breakaway provinces it now controls.

The world’s seven largest economic powers today urged Russia to accept an immediate cease-fire with Georgia.

Georgia’s president said today he signed a cease-fire pledge proposed by envoys from the European Union.

Georgia pulled its embattled troops out of the disputed province of South Ossetia and agreed to a ceasefire today, submitting to Russia’s far superior firepower.