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British opposition hurts chances for EU deal

Markets uneasy as a quick fix to debt crisis appears unlikely

By David Stringer and Frances Emilio
Associated Press / December 13, 2011
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Doubts rebounded yesterday over Europe’s ability to solve its debt crisis and rescue the imperiled euro, as investors worried that plans for closer fiscal unity will bring little immediate relief and exposed the continent’s deep political divisions. As the rift between Britain, which has its own currency, and the 17 nations that use the euro created uncertainty about the deal’s implementation, ratings agencies Moody’s and Fitch warned the plan did not even properly address the problem of lowering existing European debt.

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