Austrian Finance Minister Josef Proell said the December tranche of Austria’s contribution (EUR 190m) will only be paid out if Greece can show that it has raised the amount of money it pledged to take in through taxes. Proell told reporters Tuesday that “at this stage that target does not appear to have been met.” (Source: Austria Press Agency).

The Fins are quoted opposing to force the Irish to accept a bail-out. Rumors are flying the Irish will actually get a double bail-out (one for the country, one for their banks). Euro-zone members apparently want a UK contribution to any Irish bail-out (UK of course not being a member of the Euro zone might ask itself why they should contribute).

The wheels are coming off the Euro-cart, fast. Dollar strong, commodities and stock markets weak.

USD per Euro exchange rate. Source: DailyFx.com

The Irish Prime Minister issued a statement ahead of tonight’s emergency meeting of EU finance ministers, repeating the usual empty phrases like “Ireland has not applied for bail-out facility”, “Ireland is fully funded into the first half of 2011”, and “there is no immediate funding pressure”.

This will make for an interesting meeting of EU finance ministers tonight.

Obviously games are being played here. The Irish fear other Euro countries with higher corporate taxes could make a bail-out conditional on Ireland increasing its remarkably low corporate tax rates. Hence they try to withstand any outside financial help, which, without doubt, would find some strict fiscal measures attached to it.

Those games are obviously dangerous, as one little tripping stone (Austria balking at paying their share for Greek bail-out) can make the whole system unravel in a chaotic manner.

Meanwhile the Portuguese are seen whistling loudly while walking in the dark; “Portugal is in conditions to continue obtaining financing in the markets” (Portuguese Finance Minster Dos Santos).