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Lucas Papademos

European Markets Pounded by EU Doubts

European shares ended a two-day rally and safe-haven assets such as the dollar rose on Wednesday, as investors doubted any new measures to tackle the euro-zone debt crisis would emerge from a European leaders summit and on renewed talk of a Greek exit.The euro hit a 21-month low and commodities and commodity-linked currencies all slid, while safe-haven demand lifted the dollar index measured against major currencies to 81.84, its highest level since September 2010.An informal European leaders summit later on Wednesday is expected to discuss growth-boosting proposals and the idea of a joint euro-zone bond. French President Francois Hollande supports the bond plan, but German Chancellor Angela Merkel is opposed."Most are expecting no concrete solution out of the meeting, just a few ideas discussed on how to boost growth with no real commitment to carry them out, while Angela Merkel is almost certain to reject any proposal by Francois Hollande in relation to euro bonds," Craig Erlam, mark...

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