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Setbacks arise in Greece as debt talks grind on

By Gabriele Steinhauser and Sarah DiLorenzo
Associated Press / October 27, 2011

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European countries will force their largest banks to quickly increase their capital buffers as part of a grand strategy to solve the continent’s debt troubles, but leaders gathered at a crisis summit struggled to agree on the other key parts of the plan. Strengthening Europe’s banks is key to finally getting a grip on the debt crisis that has roiled the continent for almost two years and threatens the future of the euro, the common currency that is at the heart of Europe’s postwar unity.

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