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EU Weighs Direct Aid to Banks

European Commisson also calls for common bond issuance as crisis antidote.

By James G. Neuger, Bloomberg | Updated on May 30, 2012

The European Commission called for direct euro-area aid for troubled banks and touted common bond issuance as an antidote to the debt crisis now threatening to overwhelm Spain.

The commission, the European Union’s central regulator, sided with Spain in proposing that the euro’s permanent bailout fund inject cash to banks instead of channeling the money via national governments.

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