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German Chancellor

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A real big step was taken by the European Union Monday en route for structuring a strong financial firewall to prevent the spread of fiscal infectivity to major economies like Spain. The move came after Germany dropped its opposition to bringing the Continent’s total bailout capacity to more than 690 billion Euros.

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The arrest on Saturday of IMF chief, Dominique Strauss-Kahn, has sparked off intense speculation as to how much this incident will affect the scale …

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