Published on Dec 8, 2011 by Euronews
http://www.euronews.net/ The European Central Bank is pinning its hopes of keeping the euro zone economy out of recession with an interest rate cut and a new package of bank aid.
Setting the stage for a critical euro zone summit, the ECB reduced its key interest rate by 0.25 percent to 1.0 percent, reversing all of the increases in the last two years and taking it back to the record low reached during the financial crisis in 2009.
Setting the stage for a critical euro zone summit, the ECB reduced its key interest rate by 0.25 percent to 1.0 percent, reversing all of the increases in the last two years and taking it back to the record low reached during the financial crisis in 2009.
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