Merkel retreats - "Wins" for Spain and Italy

The EU Summit seems to have ended in a... German retreat, resulting, after 14 hours of discussions, to an agreement to establish a mechanism by the end of 2012 to allow the recapitalization of banks directly through the European support mechanisms (EFSF and ESM), without adding extra weight to the debt of the country that will refer to this mechanism.
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Τυχαία Θέματα