Germany, the strongest country in the eurozone, has vetoed any increase in the €440bn rescue package.
Weaker nations were pushing for more money to calm volatile bond markets, but Germany opposed the plans and they were dropped, the Telegraph reports. European ministers say individual countries are taking action to cut deficits, with Ireland's €6bn (£5bn) austerity budget announced yesterday and Portugal expected to unveil a similar round of spending cuts. Read more here Obama tax deal boosts growth figures US President Barack Obama agreed with congressional Republicans to extend all tax cuts from the previous administration in a move that has prompted economists to up their 20...
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