Merkel will not back quick-fix options

No quick-fix options to tackle the euro crisis threatening to spin out of control will be supported by Germany, chancellor Angela Merkel has warned.

Ireland’s hopes for changes to cut the cost of its debt are also likely to be dashed, as Germany regards the proposals as an effort to change the bailout conditions.

Euro bonds and a quick banking union were firmly rejected by Ms Merkel when she appeared at the Bundestag to brief the German parliament on the next EU summit on June 27/28.