Debt markets have 'told' European leaders that there is no time to lose if they want to save the European money zone and the euro.

Italy and Spain were forced to pay double interest rates for short term government paper, Belgium (still without a government) was downgraded by rating agencies and borrowed at rates above 6%, while an issue of German ten-year 'bunds' (government bonds) did not attract sufficiently high offers by investors to cover them, France's triple-A c...

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