Germany has admitted that Ireland, or any other eurozone state weighed down by the financial crisis, could not be allowed to collapse and would have to be bailed out by other eurozone members. Read more

The euro fell below 1.26 against the dollar for the first time since early December yesterday, after Moody’s said it may cut the ratings of several banks with units in Eastern Europe, adding to concerns that financial turmoil may deepen. Read more

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