Portugal’s foreign minister Paulo Portas resigned, the president’s office said yesterday, in a further blow to the centre-right coalition that has kept the country’s international bailout on track.

Greece has three days to reassure Europe and the International Monetary Fund it can deliver on conditions attached to its international bailout in order to receive the next tranche of aid, eurozone officials said.

Irish taxpayers are in line to get back some of the €32bn they poured into the banks after EU finance ministers agreed to speed up the creation of a banking union that would recapitalise troubled lenders.

Germany has ruled out easing the terms of Ireland’s bailout along similar lines given to Greece earlier this week in a move that will cut its debt by €40bn

Portugal’s government is taking the bailed-out country deeper into austerity, announcing sharp tax increases for next year.

Portugal’s government is putting the finishing touches to a draft budget for next year which is expected to be one of the toughest in the country’s recent history.

Tens of thousands of people from all over the country converged on Spain’s capital to hold a large anti-austerity demonstration today.

It’s been billed as the sale of the century — the sales of state assets from Ireland, Greece and Portugal, the three countries being bailed out by the EU and IMF to raise up to €58 billion in total to pay off creditors.

MICHAEL NOONAN has come mid-table in a ranking of EU finance ministers.