EUROPEAN UNION

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Monti Says Italy Might End Up Tapping Bailout

Italian Prime Minister Mario Monti told reporters Tuesday that Italy won't need a Greek-style bailout, but said the country may need to tap into the European Stability Mechanism (ESM), Europe's all-purpose bailout bucket, asking the fund to subsidize sovereign borrowing by buying Italian government bonds.
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Asian Shares Nudge Up As Investors Await China Data

Asian shares crawled higher on Tuesday after sharp losses the day before but gains were limited as investors, worried about a global economic deceleration, waited for Chinese trade data due later in the day that could set the tone for risk appetite.
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oil

Crude Oil Futures Retreat In Asia After EU Deal Rally

Crude oil futures declined during Asian trading hours Monday after reporting their biggest one-day price surge in three years in the previous session as a breakthrough in the European Union summit in Brussels boosted sentiment.
Tehran, nuclear program Iran

EU Embargo On Iranian Crude Oil Now In Full Effect

The European Union's economic sanctions on Iran became fully effective on Sunday, but the Islamic Republic's deputy oil minister claimed the country will have no difficulty finding replacements for recent EU purchasers of its crude.
Euro Zone

Euro Summit Agrees On Bank Rescue

European leaders established Friday a set of measures to address the euro zone debt crisis, including an agreement to allow some rescue funds to be sent directly to struggling banks instead of adding to the public debt of reeling economies.
Asian Markets

EU Summit Proposals Lift Asian Stock Markets

Asian stock markets rallied Friday as sentiment was buoyed after leaders at the European Union summit in Brussels agreed on important plans to tackle the region's debt crisis.
Traders work on the floor of the New York Stock Exchange

US Stock Futures Surge After EU Summit Announcements

U.S. stock index futures pointed to a higher open Friday as euro zone leaders at a Brussels summit agreed upon emergency measures to lower Italy's and Spain's borrowing costs and create a single regulatory oversight body for euro zone banks.

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