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E.U. Moves Ahead With Economic Reforms Package

By: Jim Zarroli // December 9, 2011
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European leaders pulled an all-nighter in Brussels and came up with an agreement mandating stricter fiscal and financial discipline in their national budgets. But Britain did not sign on. In any case, the arrangement is fuzzy on enforcement. For the short term, the summit leaders agreed to inject cash into a credit line for the International Monetary Fund and other measures they hope will stabilize financial markets, keep debt-ridden nations from default, and save the euro as the common currency.

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