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EU Leaders Agree on Bank Rescue Fund, Bond Support for Italy and Spain

Posted June 29th, 2012 at 8:30 am (UTC-5)
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Leaders of the European Union have reached an agreement to use its rescue fund to directly boost struggling banks across the continent, and to seek a tighter long-term budgetary and political union. The decision was reached early Friday after hours of discussions at the EU summit in Brussels. The agreement establishes a joint banking supervisory […]

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EU Leaders Agree on Bank Rescue Fund, Bond Support for Italy and Spain

Posted June 29th, 2012 at 2:40 am (UTC-5)
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Leaders of the European Union have reached an agreement to use its permanent rescue fund to directly boost struggling banks across the continent, and to seek a tighter long-term budgetary and political union. The decision was reached early Friday morning after hours of discussions at the EU summit in Brussels. The agreement also establishes a […]

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EU Leaders Agree on Growth Pact; Italy, Spain Refuse to Sign On

Posted June 28th, 2012 at 7:10 pm (UTC-5)
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European Union leaders meeting at a summit in Brussels Thursday have agreed to set aside about $150 billion to stimulate growth in the bloc’s weakest economies. European Council President Herman van Rompuy announced the so-called “growth pact” which was rejected by Italy and Spain. “The key element is that we boost the financing of the […]

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Europe Weighing Italian, Spanish Debt Relief

Posted June 28th, 2012 at 3:35 pm (UTC-5)
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European leaders are weighing the possibility of using the eurozone’s financial rescue fund to make direct debt purchases from Italy and Spain as a way to ease the surging borrowing costs both countries are faced with on the world’s financial markets. European heads of state were engaged in sharp discussions Thursday in Brussels, their 20th […]

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European Leaders Start Two-Day Economic Summit in Brussels

Posted June 28th, 2012 at 12:20 pm (UTC-5)
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European leaders have started their 20th summit on the continent’s unrelenting debt crisis, with new pressure to calm international financial markets wary about the fate of the euro currency and ease the financial burden for debt-ridden Spain and Italy. Much of the focus at the start of the Brussels summit Thursday was on Germany, with […]

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European Leaders Beginning Two Day Economic Summit in Brussels

Posted June 28th, 2012 at 10:05 am (UTC-5)
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European leaders gathered in Brussels Thursday for their 20th summit on the eurozone’s unrelenting debt crisis, with new pressure on economic power Germany to help ease the financial burden for debt-ridden Spain and Italy. Germany, with the currency bloc’s most robust economy, has resisted the sale of eurobonds, debt supported by the entire 17-nation eurozone, […]

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European Leaders Beginning Two Day Economic Summit in Brussels

Posted June 28th, 2012 at 4:45 am (UTC-5)
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Leaders of Spain, Italy and France are arriving at the start Thursday’s European Union summit in Brussels with a common concern, urging Germany to do more to ease the financial hardships of the currency bloc’s weaker governments. German Chancellor Angela Merkel met with French President Francois Hollande in Paris Wednesday ahead the summit. Merkel is […]

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Greece’s New Leaders to Miss EU Meeting

Posted June 24th, 2012 at 1:20 pm (UTC-5)
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Greece has run into a snag in its efforts to renegotiate its European-led bailout, as health problems sidelined the new prime minister and finance minister ahead of a critical meeting with the European Union. The government said Sunday that doctors had told Prime Minister Antonis Samaras to avoid travel after he had eye surgery on […]

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EU States to Restore Border Checks to Keep Illegal Migrants Out

Posted June 7th, 2012 at 5:55 pm (UTC-5)
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European Union nations have agreed to allow countries to temporarily restore border checks in the visa-free area if needed to curb illegal immigration. Interior ministers of nations in the so-called Schengen zone agreed on the new rule Thursday in Luxembourg. The visa-free zone includes most of the EU countries, and also Iceland, Norway, Switzerland and […]

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Russia’s Putin Defends Khodorkovsky Conviction

Posted June 4th, 2012 at 2:05 pm (UTC-5)
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Russian President Vladimir Putin has defended the jailing of former oil tycoon Mikhail Khodorkovsky saying it was not politically motivated. Mr. Putin spoke to reporters following a summit in St. Petersburg with European Union leaders that also covered the Kremlin’s human rights record, trade and the Syria crisis. Mr. Putin underscored a decision by the […]

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