GERMANY

Germany rejects rescue fund boost, Greece under pressure

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Germany, the only major euro zone member to retain a top-notch credit rating, refused on Monday to consider boosting the bloc's rescue fund, while Greece was under pressure to urgently break a deadlock in debt swap talks if it is to avoid an unruly default.

Germans Refuse to Boost EFSF as S&P Downgrades Fund

Germany's Chancellor Angela addresses a news conference at the end of an EU leaders summit in Brussels
Germany, the only major eurozone member to retain a top-notch credit rating, refused Monday to consider boosting the bloc's rescue fund, while Greece was under pressure to urgently break a deadlock in debt swap talks if it is to avoid an unruly default.
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S&P downgrades euro zone's EFSF bailout fund

Rating agency Standard & Poor's cut its credit rating of the European Financial Stability Facility, the euro zone's rescue fund, by one notch to AA+ on Monday, three days after it cut the ratings of France and Austria by the same margin.
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Global shares, euro stabilize, economic data eyed

European shares and the euro gradually recovered on Monday from early losses triggered by the mass downgrade of euro zone sovereign ratings last week, but they still looked vulnerable amid rising fears of a disorderly Greek debt default.
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S&P, Greece Pressure Eurozone to Boost Defenses

Mass Eurozone ratings downgrades are unlikely to shake up investors too much, but with Greek debt talks at an impasse, pressure has been loaded on the bloc to shore up its defenses and glimmers of optimism from last week have been firmly doused.
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European shares sink after S&P cuts

European shares fell on Monday and the euro was stuck at 17-month lows against the dollar while German government bonds eased after early gains on fears that S&P's mass euro zone sovereign rating cuts and a Greek debt standoff would worsen the region's debt crisis.
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S&P Moves, Greek Debt Renew Pressure on Eurozone

Financial markets are unlikely to be derailed by mass euro zone downgrades, but with Greek debt talks at an impasse, pressure has been loaded on the bloc to shore up its defenses and glimmers of optimism from last week have been firmly doused.
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Eurozone Leaders Vow to Work Faster to Fix Crisis

European leaders promised on Saturday to speed up plans to strengthen spending rules and get a permanent bailout fund up and running as soon as possible, a day after U.S. agency S&P cut the ratings of several euro zone countries' creditworthiness.
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Europe must move quickly after downgrades: Merkel

Ratings downgrades in the euro zone by S&P underline why Europe must seal a pact to tighten fiscal rules quickly and get its permanent bailout fund up and running as soon as possible, German Chancellor Angela Merkel said on Saturday.
German Chancellor and leader of the Christian Democratic Party (CDU) Merkel gestures as she addresses the media during a party convention in Kiel.

Europe Must Move Quickly in the Wake of S&P Downgrades: Merkel

Credit-rating downgrades in the Eurozone by Standard & Poor's underline why Europe must seal a pact to tighten fiscal rules quickly and get its permanent bailout fund up and running as soon as possible, German Chancellor Angela Merkel said on Saturday.

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