Paris-Berlin pact rules out Cameron’s reforms

Ireland’s need to keep Britain in the EU took a backward step with a joint Franco German pact on the future of the eurozone.

The Irish economy is predicted to be the biggest loser — even more so than the UK according to some analysis — in the event of the latter leaving the European Union.

The joint paper from Paris and Berlin could also have major implications for the Irish economy as it names tax as one of the areas where there could be greater convergence in the years ahead.