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WireTap 1400 24/11/11

A round-up of the key stories across the specialist financial media, including an exclusive on the ECB mulling over ultra-long loans to help banks

Portugal’s Credit Rating Cut to Junk by Fitch

Portugal’s credit rating has been lowered one level to BB+ with a negative outlook by Fitch due to a rising debt level and weakening economy.

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Exclusive: ECB mulls ultra-long loans to help banks

The ECB is considering extending the terms of bank loans to 2 or 3 years to prevent a credit crisis.

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UK borrowing costs drop below Germany

10-year UK gilts fell below comparable German bunds for the first time since 2009 following Germany’s disappointing bond sale.

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Germany again rejects Euro-Bond idea

German economics minister Phillip Rösler has again rejected the idea of common Eurozone bonds

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Monti may press Merkel, Sarkozy on budget goals

Italian Prime Minister Mario Monti may request an easing of Eurozone budget goals

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Dexia using emergency liquidity facilities: source

The Franco-Belgian bank is accessing emergency liquidity facilities in Belgium, France, Spain and Italy

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