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Sat 05 May 2010Banks urge ECB to buy bonds and steady markets
EUROPE'S BANKS yesterday made a desperate appeal for the European Central Bank to buy the bonds of crisis-hit euro zone members, as a second day of turmoil in markets battered share prices around the globe.
Fears that a debt default by Greece could paralyse the world’s financial system – just as the collapse of Lehman Brothers did two years ago – sparked another wave of heavy selling in Asian, European and US stock markets.
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