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With no sign of a meaningful response, and, worse yet, no safe channel to get it done even if they wanted to, systemic risk in the eurozone continues to escalate.
Highlights
European Manufacturing Contracts More Than Estimated |
German Retail Sales Drop as Recession Damps Spending |
Spanish Manufacturing Contracted at Record Pace in November |
ECB to Cut Benchmark Rate 1/2 Point, Economists’ Survey Shows |
EU’s Barroso Sees Right Conditions For ECB Rate Cut |
Italy approves economic aid, boost for banks |
European Government Bonds Gain on Signs Slump Is Deepening |
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