Kenny joins EU leaders for summit
The Taoiseach Enda Kenny joins EU leaders in Brussels today for a make-or-break summit on the future of the eurozone.
Spain and Italy want immediate action to be taken to lower their cost of borrowing, but Germany is resisting any plans to share debt.
Leaders will discuss the prospect of a new Fiscal Union and a new European Banking Watchdog.
Spain and Italy want action to bring down their borrowing costs amid fears that they could be locked out of the markets, but Germany is strongly opposed to any sharing of EU debt.
The Taoiseach has said he will push for the use of EU funds to directly recapitalise European banks.
Such a move would greatly benefit Ireland by separating bank and sovereign debt.
However, Europe is divided on the idea and this time the divisions are open, meaning agreement is likely to be much more difficult to reach.
