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Euro Rises on Optimism EU May Speed Fund to Stem Debt Crisis

The euro rose on optimism European officials may speed efforts to stem the region’s debt crisis after mounting pressure from foreign counterparts and investors at the International Monetary Fund’s annual meeting.

European governments are exploring accelerating the start of a permanent rescue fund for their economies, with senior finance officials set to examine this week the cost advantages of setting up the European Stability Mechanism, or ESM, a year earlier than its July 2013 start, according to a document prepared for the meetings and obtained by Bloomberg News.