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European stocks and euro dive on Greece worries

European stocks slumped and the euro hit an eight-month dollar low on Monday after Greece said it would not meet a target for reducing its massive deficit, heaping fresh pressure on the eurozone crisis. The Frankfurt market dived more than 3.0 percent and bank stocks tumbled on the first trading day of…

Moody’s threatens to downgrade Spain

MADRID (Reuters) – Rating agency Moody’s put Spain on review for a possible downgrade on Friday, adding to concerns that a Greek rescue package has done little to halt the spread of Europe’s debt crisis. Moody’s move to place the Aa2 government bond rating on review cited concerns over growth…