The eurozone cannot survive as a viable economic region in the longer term unless there are moves towards fiscal and political union, according to chief economic commentator with the Financial Times Martin Wolf.

Billionaire investor George Soros has warned that the eurozone faces a 25-year deflationary slump if the banking problem is not sorted.

A leading economist has said Ireland needs to implement debt writedowns for struggling mortgage holders.

WITH the eurozone close to the cliff’s edge, elected politicians are giving way to the technocrats, or else being forced to kowtow to them.

The issue of whether to break up Britain’s banks will be top of the agenda tomorrow when more details emerge of a Government-led inquiry.