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Will debt crisis hit Italy and Spain?

The debt crisis in Europe deepens as officials try to get to grips with increasingly worrying developments.

The credit-rating agency, Moody's, has downgraded the Republic of Ireland's debt status to junk warning that a second bailout may be required before it can sell bonds to investors.

The sense of urgency is increasing as leaders of the 17 members of the Eurozone prepare for an emergency meeting on Friday.

Matthew Price reports from Brussels.

  • 13 Jul 2011
  • From the section Europe
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