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EU deal buoys markets despite sketchy details
Euro zone leaders agreed on Friday to bend their aid rules to shore up banks and bring down the borrowing costs of stricken members like Italy and Spain, in a sign the bloc is adopting a more flexible approach to solving its two-year old debt crisis. The measures, agreed after 14 hours of intense talks that pitted Rome and Madrid against Europe's paymaster Berlin, were welcomed by financial markets. The euro rose sharply against the dollar and yields on Spanish and Italian debt fell sharply. Ireland hailed the decisions, which represented a significant shift on Germany's part, as a "game changer" but many of the ... (full story)
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