Merkel strengthens resistance to Eurozone debt sharing

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Source: Bloomberg
Chancellor Merkel strengthened her opposition to Eurozone debt sharing, moving Germany on battle course against its allies ahead of upcoming EU summit in Brussels this week. Yesterday Merkel claimed in her speech Euro deposit insurance, Euro bonds and Euro bills to be counter-productive and economically wrong. Moreover should the usage of such instruments is against German constitution. 
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Tue, 26 Jun 2012 06:43:16 GMT

Cyprus calls for bailout

Cyprus has become the latest member of EU, that official has required a financial aid from union. The aim of decision is to tackle risks of country's economy, claimed Cypriot government on Monday. Cyprus is the fifth member of Eurozone that will require bailout from region's counterparts. Euro remained lower versus Dollar at USD 1.2500.

Tue, 26 Jun 2012 06:21:17 GMT

Moody's cuts rating of 28 Spain's banks

Moody's Investors Agency downgraded Spanish biggest banks including Banco Santander SA,Banco Bilbao Vizcaya Argentaria SA (BBVA) and 26 other country's lenders citing surging national debt and climbing real estate mortgages. At least twelve banks were cut to junk grade Moody's reported yesterday. Banco Santander was downgraded from A3 to Baa2 while BBVA was cut from A3 to Baa3.

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