Germany’s finance minister admitted for the first time yesterday that Greece would need a third aid package, as a source in Athens said the sums involved in any new deal would be far smaller than previous rescues.

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.

Austerity is here to stay was the grim message from the ECB, and especially for countries with high debt.

Ireland’s massive banking sector largely located in the Financial Services Centre should not be under threat from the EU that worries about financial institutions sinking sovereign states, according to ECB executive board member Jorg Asmussen.

Amazingly nobody seems to want to claim credit for the great Cypriot bank raid, and it’s hard to find anyone with a good word to say about the “deal” which has put all of Europe into a Boylean “state o‘ chassis”.

People with Cyprus bank accounts will lose up to 10% of their savings as the price of a €10bn rescue package for the cash-strapped country from its European partners and the International Monetary Fund.

ECB policymaker Joerg Asmussen has said Greece will probably need a follow- up programme for the years following 2014 after the eurozone, this week agrees on the country’s funding for the next couple of years.

Finance Minister Michael Noonan has offered a sign of hope that progress has been made on Ireland's bank debt.

The ECB will be happy to swap the €31bn of promissory notes, reducing the debt burden on taxpayers, if the right deal can be made, sources in Frankfurt say.

The ECB has officially acknowledged that it insisted on Irish taxpayers repaying all the €31bn owed to Anglo Irish bondholders to protect Europe’s banks.

The Department of Finance expects to announce a deal on the re-negotiation of the €27 billion “Anglo” promissory notes during the troika’s visit to Ireland next week, despite a senior European Central Bank official claiming that he knows nothing about it.

EUROPEAN Central Bank President Mario Draghi agreed to put Belgium’s Peter Praet in charge of the bank’s economics division, ignoring calls from Germany that one of its nationals should keep the job.

There may be plenty of questions nagging trainer Steve Asmussen about Curlin’s Breeders’ Cup Classic title defence at Santa Anita on Saturday, but for most of those outside his barn, the superstar has all the answers.

Brian Meehan will take time to assess Red Rock's condition after he claimed the scalp of American Horse of the Year Curlin before plotting a path to the Breeders' Cup in California.

An audacious crack at the Prix de l’Arc de Triomphe will move a step closer for Curlin this weekend if he wins the Man o’War Stakes at Belmont Park.

Curlin confirmed his reputation as the best racehorse on the planet with a scintillating performance in the Dubai World Cup at Nad Al Sheba.

Connections of Breeders’ Cup Classic and Preakness Stakes winner Curlin are expecting a bold show from their superstar at Nad Al Sheba on Thursday.

Steve Asmussen is hoping American Horse of the Year Curlin will gain recognition as the best animal on the planet after he tackles the Dubai World Cup on March 29.

Kentucky Oaks winner Rags To Riches bids to buck two major trends when she lines up in the 139th renewal of the Belmont Stakes on Saturday.

Curlin bids to overcome more than a century of history when he goes for gold in the Kentucky Derby at Churchill Downs tomorrow.

Steve Asmussen was in philosophical mood after Kentucky Derby favourite Curlin was handed stall two for the Churchill Downs showpiece on Saturday.

WE have two cracking classics to look forward to at the Curragh this weekend, the 2000 Guineas and 1000 Guineas, as well as some strong supporting races, particularly the Group One Tattersalls Gold Cup.