Direct Aid for Banks Italy and Spain Get Their Way at EU Summit

Italy and Spain were able to secure immediate measures to lower their borrowing costs at the European Union summit in Brussels on Thursday night. The agreement allows direct EU bailout aid to struggling banks, which Chancellor Angela Merkel had opposed.
German Chancellor Angela Merkel and Italian Prime Minister Mario Monti in Brussels on Thursday night.

German Chancellor Angela Merkel and Italian Prime Minister Mario Monti in Brussels on Thursday night.

Foto: Michel Euler/ AP
Photo Gallery: Spain and Italy Win in Brussels
Foto: Virginia Mayo/ AP
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Photo Gallery: Spain and Italy Win in Brussels

cgh -- with wire reports
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