Europe
Financial Times - Europe
Financial Times
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Devaluation – last option to save the euro
Raising taxes and cutting spending will only deepen recessions in eurozone periphery states – devalue the currency instead, says Jeremy J. Siegel
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OECD joins call for eurozone bonds
Paris-based organisation warns crisis management must go hand in hand with construction of institutions to make monetary union ‘work properly’
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France to push for eurozone bonds
French president includes concept as part of growth measures to be debated at an informal summit, while US calls on Europe to resolve its debt crisis
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Baghdad attacks Turkey oil pipeline plan
Iraq threatens to veto project announced by Kurdish oil minister, which could give Turkey direct access to 1m barrels per day of oil
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Secret €100bn aid props up Greek banks
Extensive use of ‘emergency liquidity assistance’ to help banks in weakest economies has been one of less-noticed features of the eurozone crisis
