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The people of Iceland voted against the Icesafe deal for the second time - raising the prospect that popular anti-establishment unrest may spread to the eurozone; dispute with UK and the Netherlands will now go to the EFSFEFTA court; 45% of Irish executives said to be in favour to burn bank bondholders according to a survey of Ireland's 200 top companies; another poll suggests that though support for Enda Kenny is up, there is much anger over his enforced U-turn on bailing in bank bondholders; the European Banking Authority says silent capital is unacceptable, and sets 5% for core equity tier-1 as the pass threshold for the stress tests; two German Landesbank at risk, and Wolfgang Schäuble says no money from Berlin if any of the banks would fail; Axel Weber calls on Landesbanken to convert silent capital into ordinary capital; European finance ministers reject bridging finance for Portugal, and demand tough austerity as a quid-pro-quo for a loan; Elena Salgado says: We are safe; Wolfgang Münchau says: You are not safe; Olli Rehn calls on Finland's political parties to approve the Portugal rescue package, or risk severe repercussions; Lucas Papademos says the Greek 2010 deficit is possibly above 10%, and calls on his country to meet the shortfall with further austerity; Wolfgang Schäuble is the first Euro finance minister to admit that Greece might not be able to go back to the markets next year; Jean-Claude Trichet rebuffs European finance ministers ruminations about a Greek debt restructuring; Axel Weber expects 3% inflation for Germany this year, and 2,5% for the eurozone; 45% of the French, meanwhile, would like to see Strauss Kahn as the next French president.
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