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Confidence in eurozone improves despite downgrades

Associated press

  January 20, 2012

Worries about the 17-nation eurozone have receded since the start of the year, with stocks rallying consistently and bond yields - the rate countries pay to borrow - sliding. Analysts warn, however, that those gains may simply be riding an absence of bad news - a looming recession could hinder efforts to slash deficits while Greece depends on a deal with banks to avoid a disastrous default this spring.

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