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June 29, 2012


Europe Acts to Shore Up Banks

"European leaders at a two-day summit in Brussels said they would speed up plans to create a single supervisor to oversee the euro zone's banks, and agreed on measures aimed at reducing soaring borrowing costs for Spain and Italy," the Wall Street Journal reports.

Reuters notes it's "a sign the bloc is adopting a more flexible approach to solving its two-year old debt crisis."

Alex Burns: "Like the health care decision, it's not as if a move toward economic stability in Europe is going to give the president a big boost at the polls. But it staves off a different outcome (another global financial crisis) that could have been catastrophic for Obama, and that grim scenario looks somewhat less likely today."












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