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    Eurozone leaders meet to consider closer fiscal union

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    euronews (in English)

    by euronews (in English)

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    There are fears that borrowing costs could rise after the credit ratings agency Moody's downgraded 15 mostly European and American banks.

    On Friday European leaders will try to pave the way for closer fiscal and banking union ahead of an EU summit.

    In Luxembourg eurozone finance ministers decided on a mechanism for Spanish banks to get a multi-billion euro loan.

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    http://www.euronews.net/