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As expected, the Eurogroup has chosen Holland's Jeroen Dijsselbloem as its next chairman to...

As expected, the Eurogroup has chosen Holland's Jeroen Dijsselbloem as its next chairman to replace Jean-Claude Juncker. The participants also debated how and when the ESM should be able to provide direct support to banks, while Portugal and Ireland requested more time to repay their bailouts. Cyprus is unlikely to get a rescue deal until March. Today, the group is expected to approve the starting of work on a financial transactions tax.
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