EU set for final bid to save euro

THE EU stage is set for at least 12 hours of tough negotiations in what many see as a final bid to rescue the euro and which will again see Ireland fighting to retain its corporation tax policy.

The leaders of the 27 EU countries will sit down to dinner this evening to choose how they change the EU Treaty, Germany’s absolute demand before they consider any other issue.

Over the next two days they will try to agree to double the firewall by ramping up the bailout mechanism, the European Financial Stability Facility from €600 billion to €800bn and phase in the European Stability Mechanism (ESM) also set to have €600bn at its disposal.