The ECB has ramped up efforts to tackle the mountain of soured loans in many eurozone banks, seeking to repair damage caused by years of lax supervision and feeble economic growth.

Exchanges should slap higher fees on traders who cancel many of their buy and sell orders to stop potential abuses from ultra-fast high-frequency trading, a senior EU politician has said.

GERMAN MEPs stepped up the pressure on Ireland over its corporation tax rate insisting that it would have to double if the country needed a bailout.