Eurozone powers to meet ahead of leaders' summit

Six eurozone powerbrokers are to hold emergency talks tomorrow ahead of a crucial EU leaders summit to resolve the debt crisis.

The meeting will involve German Chancellor Angela Merkel, French President Nicolas Sarkozy, ECB President Mario Draghi and European Commission President Jose Manuel Barroso.

It comes after Germany raised concerns about the prospect of reaching an agreement this week in Brussels to calm markets and save the euro.

Meanwhile, Chancellor Merkel and President Sarkozy have jointly written to the European Council President Herman Van Rompuy outlining their plan to save the euro.

It has been reported that they are seeking common corporation and financial transaction tax rates across the eurozone.

This is a move that is most likely to be opposed by Taoiseach Enda Kenny.