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Bond market gives eurozone brief respite

By Barry Hatton and David McHugh

 |  Associated Press  

  January 05, 2012

Europe won some further modest respite from its debt crisis Wednesday as Germany and Portugal became the latest countries to borrow with relative ease ahead of a hazard-filled few weeks for the 17-nation eurozone. But news that a major Italian bank had to offer an unexpectedly large discount to raise new capital and strengthen its finances was a reminder of how the crisis is weighing on banks, as well as governments.

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