The visit of ESM fund chief Klaus Regling to Dublin yesterday, and that he came in an atmosphere far less fraught than might have been the case some years ago, was informative and slightly dispiriting.

The euro body that helped bail out Ireland will be checking annual budgets for decades to come to ensure enough money is set aside to repay the debt.

Further EU aid to lighten the weight of Ireland’s massive debts is still a possibility, the head of the body responsible for raising money for broke countries hinted as Ireland waves goodbye to its austerity programme.

The State could end up paying more for the Irish banks if they fail the stress test next year as the bailout fund, the ESM, is ruling itself out and bailing-in the shareholders has become more acceptable.

Tánaiste Eamon Gilmore has rejected calls from the head of the European Stability Mechanism to adhere to a €3.1bn adjustment – insisting the Government will stick to a different target.

It is a scene that haunts the memory, the sight of the earnest Indian executive from the IMF passing a Dublin beggar on an ice cold late November’s day in 2010, on a day of national financial surrender.

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.

Eurozone finance ministers have agreed to increase the capacity of the European Financial Stability Facility (EFSF) bailout fund.

THE head of Europe’s bailout fund sought financial support from China yesterday to help resolve the bloc’s debt crisis, saying that while no quick deal was in sight, he was still confident Beijing would keep buying bonds issued by the fund.

Europe’s bailout fund chief is visiting Beijing to discuss possible terms for a bond sale aimed at raising money from China and other non-European investors.

The referendum to reverse the Abbeylara judgment, if passed, is likely to lead to a banking inquiry. The temptation for cheap point-scoring will have to be resisted, writes Michael Clifford

The head of the European Union's multi-billion euro bailout fund has said there is no danger of the eurozone collapsing because of the debt crisis.

IRELAND’S stock market reacted favourably to the bond sale with shares closing up 0.6% but Italy’s finance minister said dark clouds are gathering.

THE cost of borrowing to the state hit a new high of 6.53% yesterday as investors worry the bank crisis will cause us to default on our mounting debt which will hit close to €180bn in 2012.

THE cost to the Government of borrowing on the international markets fell slightly yesterday after plans to split Anglo Irish Bank into two separate entities were revealed.

THE establishment of an independent economic council to advise on future financial projections and fiscal policy, has been proposed by two international banking experts.

THE international factors which contributed to the Irish banking crisis should not be ignored although Government tax breaks for the property sector were also a key element, according to one of the authors of a report on the financial crash.

A PROBE into possible share manipulation as Anglo Irish Bank slid into crisis was demanded last night after investigators into the financial slump appeared before a Dáil committee.

Ireland is not financially ruined and can look forward to economic growth again in the coming years, international experts said today.

A SENIOR government minister conceded that Taoiseach Brian Cowen can take the blame for leading the country into the current economic crisis.

The Government will table a motion of full confidence in Taoiseach Brian Cowen next week after two highly critical reports gave a damning indictment of his handling of the economy while Finance Minister.

Fine Gael has tabled a motion of no confidence in Taoiseach Brian Cowen.

Finance Minister Brian Lenihan has said the Taoiseach cannot bear sole responsiblilty for the failures of successive administrations that led to the banking crisis.

THE Taoiseach was deeply implicated in the collapse of the economy, the banking reports conclude.

IRELAND’S regulators who oversaw the banking collapse have been described as timid and helped bring the financial sector to its knees.

WHEN Brian Cowen delivered a major speech running to more than 7,000 words on the causes of the banking crisis last month, the opposition smelled a rat.

GOVERNMENT decisions and tax policies that fuelled the boom and contributed to the financial crisis will not be examined as part of the banking inquiry.

Opposition parties say the Taoiseach must be held accountable for his role in the financial crisis, as today outlined in two reports.

An Taoiseach Brian Cowen has insisted that the Government took action ahead of the banking crisis to reduce the vulnerability of the banks to the property bubble.

The two reports into the banking crisis have concluded that Brian Cowen's 2007 Budget added markedly to the overheating of the economy, and that Mr Cowen introduced excessive government spending.

THE Government should be able to take some steps on foot of the two reports into the banking crisis that has cost taxpayers more than €72 billion to date, Finance Minister Brian Lenihan has indicated.

THE two international experts appointed to carry out one of the preliminary inquiries into the banking crisis will hold talks next week with officials of the Central Bank, the Financial Regulator and some of the country’s research institutions as their probe into the banking collapse gets under way.

The Taoiseach Brian Cowen faces being quizzed by the preliminary inquiry into the banking crisis.

The man charged with conducting a preliminary inquiry into the banking crisis has said he will identify "all of the issues, if not all the answers".

THE 59-year-old German economist just appointed by the Government to investigate the cause of Ireland’s banking crisis, is known in Brussels as a straight-talker.

The European Commission yesterday called for better budget discipline in the eurozone, saying countries had sometimes used one-off steps to keep their deficits below the EU limit.

The European Commission has said the failure to implement sanctions against France and Germany according to the terms of the stability and growth pact could hit eurozone confidence.