Your guide to what's going on.
No safety net: German chancellor Angela Merkel last week made clear her government's opposition to an European deposit insurance scheme - considered by many a key element of a banking union. She also rejected a growing chorus - led by European Commission president Jose Manuel Barroso - that austerity is damaging EU economies.
**Forget what I said:** debt market kingmaker Bill Gross, who controls Pimco's $289 billion bond fund, has reversed course and urged the...
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