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Friday, December 14, 2012

EU scores hat-trick with Greek, bank deals, Nobel

German Chancellor Angela Merkel, left, speaks with French President Francois Hollande during a meeting on the sidelines of an EU summit in Brussels on Thursday, Dec. 13, 2012. In one whirlwind morning, the European Union nations agreed on the foundation of a fully-fledged banking union and Greece’s euro partners approved billions of euros in bailout loans that will prevent the nation from going bankrupt. (AP Photo/Michel Euler, Pool)Finally, it has been a good week for Europe. After months of bitter debate, European Union countries finally reached two crucial agreements Thursday: They found a compromise to create a single supervisor for their banks — a major step toward lessening the damage struggling lenders can inflict on government finances — and agreed to give Greece desperately needed bailout funds.



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