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Sunday, June 17, 2012

Tighter EU emerging as eurozone seeks lasting solution

All attempts to end the eurozone debt crisis so far have failed, analysts say, forcing leaders into a new and uncertain dimension of deeper integration that holds both promise and dangers.

From the Greek government's shock discovery of hidden deficits in 2009 to a hasty 100-billion-euro ($125-billion) rescue of Spanish banks three years later, the history of the eurozone debt crisis has been a "patchwork of sticking plasters".