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Since it came to power in July this year, the Slovak centre-right government has called for private investors to feel the pain of any rescue operation under the eurozone umbrella. It considers the Greek bail-out "essentially a mistake" and a "precedent" that made European governments a "hostage" of financial markets. "If we continue this way, we are close to a pyramid scheme," the Slovak prime minister, Iveta Radicova, told journalists after the Wednesday government session dealing mainly with Ireland (24 November). She warned that a system of accumulating debts eventually risked falling like "a house made of cards". "Once again, taxpayers are expected to pay the bill. Once again, the banks are being rescued," Ms Radicova said, hinting that Lisbon and Madrid could be next going cap in hand to their EU colleagues.

Eurozone neighbours are pressing Ireland to raise the 12.5% corporation tax rate as part of negotiations for a rescue package but Dublin is resisting, arguing that it is crucial for foreign investment. Irish Deputy Prime Minister Mary Coughlan told parliament the corporate tax rate was "non-negotiable". European Minister Dick Roche echoed that comment, saying "it is certainly not up for negotiation". "There has been some very unhelpful chatter in the background in the last few days about our corporation profit tax. Where would be the sense of destroying one of the great drivers of growth?" he told BBC television. Britain and Germany have long viewed low Irish taxes as a form of unfair competition and the finance ministers of Austria and France said the corporation tax may have to be raised as part of any deal. Michael Meister, a deputy leader in parliament and finance expert for Angela Merkel's Christian Democrats (CDU), said the country needed to consider raising the levy. "The Irish rates are below the European Union average," Meister told Reuters on the sidelines of the CDU annual party congress on Tuesday (16 November). "I therefore see here at least a possibility, given the high [Irish] budget deficit, to improve revenues without causing a negative impact on growth," he added. Meister's comments come one day after Elmar Brok, a senior CDU lawmaker who has sat in the European Parliament since 1980, said Ireland may have no choice but to raise the rate. "Ireland has two options to consolidate its budget – cut expenses even further or increase taxes like the corporate tax rate," Brok said at the congress in Karlsruhe.

Hungary, which is due to replace Belgium at the EU helm on January 1st, has said that further consolidation and enlargement of the 27-nation bloc will be among the key priorities of its six-month chairmanship of the Union.

The European Union's new ambassador to the United States has presented his credentials to President Barack Obama in Washington, formally assuming his position in the process.  Joao Vale de Almeida formally became the new European Union ambassador to the United States on Tuesday after handing over his credentials to President Barack Obama in Washington. Vale de Almeida is the first EU ambassador to the US since the reforming Lisbon Treaty came into force on December 1, 2009. The Lisbon Treaty aims to enhance the EU's capacity to operate more effectively and act more cohesively in matters of foreign affairs and security. Prior to the Lisbon Treaty, the position of ambassador to the US was held by the rotating EU presidency, which changed hands every six months. Vale de Almeida's duties will include representing the European Commission President Jose Manuel Barroso and President of the European Council Herman van Rompuy. "I'm the first new type of ambassador for the European Union anywhere in the world," Vale de Almeida told news agency Agence France-Presse after the credentials ceremony at the White House. "I'm supposed to have a wider mandate than my predecessors," he said. "Our delegations now cover a wide spectrum of issues well beyond the economic dimension, trade dimension and regulatory dimension, to cover all policies in the union, including foreign policy and security policy."

Fresh turmoil in the Irish and Portuguese debt markets has reignited the eurozone's fiscal crisis, with record borrowing costs in the two states sparking bail-out expectations and concerns over possible contagion. Irish borrowing costs on benchmark 10-year bonds jumped half a percentage point to a euro-era record of 8.64 percent on Wednesday (10 November), a weighty 6.19 percent higher than their German equivalent.

The dramatic rise followed a sell-off of Irish bonds by investors after LCH.Clearnet – one of Europe's biggest clearing houses – upped the amount of deposit it requires on all Irish positions to 15 percent. Ireland's debt is now judged to be as risky as Greece's this spring when member states scrambled to agree a bail-out for Greece, with Lisbon also forced to pay record amounts during a bond issuance on Wednesday.

Slovakia, which joined the eurozone last year, should have a 'plan B' to return to its national currency, the country's parliamentary speaker, Richard Sulik, has said, amid frustration over the way the eurozone is handling the debt crisis. "The time is ripe for Slovakia to stop blindly trust in what eurozone leaders say and prepare a plan B. This is the re-introduction of the Slovak koruna," Mr Sulik said in an opinion piece published in the bussiness daily Hospodarske noviny on Sunday (12 December).

The Slovak centre-right government has repeatedly called for private investors to feel the pain of any rescue operation under the eurozone umbrella. It considers the Greek bail-out a mistake that made European governments a hostage to financial markets. The parliamentary speaker said it is "irresponsible" for states to risk financial problems at home by taking on the liabilities of their debt-ridden colleagues under the European Financial Stability Facility, a temporary bail-out tool agreed in May and currently providing aid to Ireland.

Bulgaria is threatening to block Turkey's application to join the European Union unless it pays out billions of euros in compensation for displaced people, in a case dating back to the days of the Ottoman Empire. A Bulgarian cabinet minister without portfolio who runs the country's Agency for Bulgarians Abroad, Bojidar Dimitrov, pressed the claim in remarks to the Bulgarian newspaper, 24 Hours, on Sunday (3 January).

"Turkey is surely able to pay this sum, after all, it's the 16th largest economic power in the world," he said, putting a total of $20 billion (€14 billion) on the settlement. "One of the three conditions of Turkey's full membership of the EU is solving the problem of the real estate of Thracian refugees." The Ottoman Empire in 1913 expelled hundreds of thousands of ethnic Bulgarians from lands lying on the western side of the Bosphorus. It became the Republic of Turkey in 1923 and recognised the rights of the displaced people in a 1925 treaty, but the agreement was never implemented, Bulgaria says. An official in the Bulgarian government press office, Veselin Ninov, told EUobserver on Monday that Mr Dimitrov's statement reflects government policy and that the dispute is being handled by a Bulgarian-Turkish intergovernmental working group.