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News Link • Economy - International

Germany dampens hopes as France warns of euro 'explosion'


Piling the pressure on EU leaders due to meet in Brussels from Thursday, Standard and Poor's put a number of large European banks on review and placed the European Union on watch for a downgrade of its AAA credit rating.

German officials said reaching a deal would be "difficult" as US Treasury Secretary Timothy Geithner pressed Europe for decisive action to tackle the crisis and US President Barack Obama spoke to German Chancellor Angela Merkel.


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