The Main Stream

Jun 29, 2012 2:04 AM

European leaders agree on long-term union

BRUSSELS, BELGIUM - Europe's financial leaders have pulled an all-nighter and agreed to use the continent's bailout fund to funnel money directly to struggling banks.

The overnight, emergency meeting in Brussels focused on helping Spain, which sought 100 billion euros to rescue its banks.

The meeting, called a "breakthrough," also resulted in a pledge to develop a tighter union.

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