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S&P 500 companies seen reporting average 1.1% drop in Q2 earnings.
New governing coalition seeks to postpone fiscal deadlines by at least two years.
EU leaders expected to press Germany for more action at this weeks summit.
Biggest depreciation for emerging markets since 1998 is expected to worsen.
European Central Bank relaxes its rules on collateral for loans it makes to banks.
Moodys cuts to bank ratings have companies reviewing their bank relationships.
