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Page last updated at 08:50 GMT, Friday, 5 August 2011 09:50 UK

'No hiding place' from euro crisis

With markets fast losing confidence in the finances of Italy and Spain, EU Commission President Barroso has told European leaders that "we are no longer managing a crisis just in the euro-area periphery".

Former deputy governor of the Bank of England Sir Howard Davies explains why the eurozone crisis is "serious" for the UK.

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