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WireTap 0900 29/11/11

A round-up of the key stories across the specialist financial media, including reports that the UK's fiscal deficit is once again on the rise.

UK faces bigger financial black hole

The UK’s structural deficit has increased by almost £30 billion, meaning the imposition of further years of austerity.

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Moody’s signals possible cut for Europe banks

Moody’s says it is considering downgrades for banks in 15 Eurozone countries to reflect the loss of government support.

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European nations pressure own banks for loans

European nations struggling to find buyers for bonds are pressuring their own already-stressed banks to act as lenders of last resort.

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Corzine pushed Europe bet to $11.5 Billion as board balked

Corzine used short-term hedges to allow him to report half the actual net risk to shareholders.

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Japan unemployment rate exceeds all estimates

Japan’s unemployment rate has surged beyond all predictions, adding pressure on the central bank to expand stimulus.

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Germany told to act to save Europe

Polish foreign minister Radek Sikorski calls for drastic action to prevent the collapse of the Euro.

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