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EU Leaders to Pledge ‘All Levers’ to Tackle Crisis

European Union leaders will pledge “to mobilize all levers and instruments” to ensure financial stability and tackle the sovereign-debt crisis, according to draft conclusions prepared for a June 28-29 summit in Brussels.

The 27-nation bloc should “rapidly examine” EU proposals on bank capital requirements, deposit-guarantee programs and how to handle cross-border bank failures, according to the draft conclusions dated June 15 and obtained by Bloomberg News. “The current economic situation remains unsatisfactory” and shoring up the banking sector is important to restoring growth, according to the document.