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Monti wins vote on Italian austerity package

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Italy's government easily won a confidence vote on its tough austerity package on Friday, the first step in parliamentary approval for sweeping measures aimed at saving the euro zone's third-largest economy from financial disaster.

Italy's Monti faces confidence vote on austerity

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Italy's government faces a confidence vote in parliament on Friday, called to speed up approval of a 33-billion euro ($43 billion) austerity package intended to restore financial market confidence in the euro zone's third largest economy.
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More than 100 Million EU Citizens Have Never Surfed Web

Almost a quarter of the European Union's 500 million people have never used the Internet and there is a widening division between the web-savvy north of Europe and the poorer south and east, figures released on Wednesday showed.
220 kg block of gold

Gold ETF Holdings Massive But Stable

The amount of gold held in exchange-traded products is near record highs and although the gold price is suffering from investors' desire for the safety of cash, the risk of this $116 billion stash of bullion being jettisoned is distant.
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Exclusive: Commerzbank in state aid talks

German lender Commerzbank and the government have been in talks for several days over possible state aid, five people familiar with the matter told Reuters on Monday.
Hungary's Prime Minister Orban and Britain's Prime Minister Cameron attend a EU leaders summit in Brussels

The Day Europe Lost Patience with Britain: Friday?

It was billed as a summit to save the euro. It may be remembered as the day Europe lost patience with Britain, as most of the continent threw its lot in with European Union founding members France and Germany and committed to binding their economies ever more tightly.
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Death of bond salesmen as banks rethink EU auctions

European governments -- many of which are already struggling to woo buyers for sovereign debt -- could find it even harder to raise money as the investment banks they relied on to sell the debt baulk at the cost.
Euro banknotes.

Markets Now Seeing Once-Unthinkable Greek Eurozone Exit as Inevitable

Talk of Greece voluntarily leaving -- or being kicked out of -- the eurozone was once verboten. Now bank economists, investors, and even central bankers are talking about it as though it's a done deal. The divide between rhetoric is also growing. Those predicting the future Greek exit are calling it "manageable," while those saying it won't happen are labeling the possibility "catastrophic."
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Monti warns of Greek-style risk to Italy

Italy risked a Greek-style economic collapse which could threaten the future of the euro without the austerity package approved by the government, Prime Minister Mario Monti said on Monday, calling on European partners to do their part.
U.S. Stock Market

U.S. Stock Market - Is Dow 12,000 the End or Beginning of a Rally?

You can't blame investors for feeling a bit hesitant regarding deploying new money in the U.S. stock market these days. Lingering concern about Italy's finances, along with below-trend U.S. GDP growth has created an uncertain U.S./Europe economic outlook. Where's the Dow likely to head in the next six months?
Italian Prime Minister Monti takes his glasses during a news conference on the new austerity package in Rome

Italy PM Monti Unveils Sweeping Austerity Package

Prime Minister Mario Monti, boosted by positive market reaction, takes a 30 billion euro austerity package to Italy's parliament on Monday to help stem a debt crisis threatening to overwhelm the Eurozone.
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Merkel says marathon crisis will take years to solve

The euro zone debt crisis cannot be solved overnight, German Chancellor Angela Merkel said on Friday, urging instead a long-term approach that relies on tougher fiscal rules being enshrined in European treaties.

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