In this paper and the companion paper [EJE2], we establish finite-time singularity formation for finite-energy strong solutions to the axi-symmetric Euler equations in the domain ${(x,y,z)\in^3:z^2\leq c(x^2+y^2)}c>0$. In the spirit of our previous works, [EJSI] and [EJB], we do this by first studying scale-invariant solutions which satisfy a one dimensional PDE system and proving that they may become singular in finite time for properly chosen initial data. We then prove local well-posedness for the Euler equations in a natural regularity class which includes scale-invariant solutions. While these solutions have uniformly bounded vorticity from time zero until right before the blow-up time, they do not have finite energy. To remedy this, we cut off the scale-invariant data to ensure finite energy and prove that the corresponding local solution must also become singular in finite time. This paper focuses only on the analysis of the scale-invariant solutions themselves and the proof that they can become singular in finite time. The local well-posedness theorem and the cut-off argument are very close to those in [JSI] and [EJB] and are left for the companion paper [EJE2]. It is important to remark that while the fluid domain is the exterior of a cone, we prove global regularity for the axi-symmetric Euler equations without swirl in the exact same regularity classes and in the same domain. It is quite possible that the methods we use can be adapted to establish finite-time singularity formation for finite-energy solutions to the Euler equations on .

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