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European debt crisis: Live

Stock markets fall again as Europe’s policymakers scrabble to come up with a rescue plan to hold the eurozone together

7.45am: Six weeks to solve the crisis. That was George Osborne’s stark warning last Friday, after world stock markets had been battered by fears that the world is heading for a new recession.

Three days later, and the clock is ticking. Last night, high-level talks in Washington DC between top finance ministers and International Monetary Fund officials broke up without any clear signs of a deal. There is talk of creating a €2tn warchest to rescue Europe’s struggling countries, but no clear idea how this will happen.

Financial markets will give their verdict on the Washington talks today – the early reaction from Asia has not been favourable, with most markets falling sharply. Investors in London are predicting more losses here too – but trading is likely to be volatile.

We’ll bring you all the key developments in the European debt crisis today. Let us know what you think too, below the line…

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