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The Friday Morning European Session Headlines

Brussels turn up pressure on Libor - Financial Times

The UK’s OBR said that faster tax growth or lower than forecast public spending will be required for the government to meet its deficit forecast

The BoE has a case for restarting its QE, and may need to increase it by up to £175bn if the economy is running substantially below capacity -Daily Telegraph

WTI Crude rebounds; set for biggest weekly drop Since December –Bloomberg

This morning upbeat comments from RBA governor Stevens, in his semi-annual parliamentary testimony, have lifted the Aussie dollar, with the governor sounding exceedingly confident towards the economy's outlook, with no such hints that rates will need to be cut in the near-term

China's Regulator Gets Tougher on IPOs - Wall Street Journal

Bankia to reveal a large loss next week, expected to be in the region of €19bn

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