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This is Money

Ben Bernanke urged Congress on Wednesday to act to bring down long-term budget deficits, or else face a future debt trap.
Bernanke warns on deficit

Latvia has become the first EU country to face a sovereign debt crisis after failing to sell a single bill at a treasury auction worth $100m (61m), prompting fears of a fresh storm in Eastern Europe as capital flight tests currency pegs.
Latvian debt crisis shakes Eastern Europe

According to the respected Purchasing Managers' Index (PMI), activity in the services sector - which accounts for three quarters of gross domestic product (GDP) - jumped above the crucial 50 mark which separates contraction from expansion. Rising three points to 51.7 from 48.7 in May, it was the first time the sector had shown growth since April last year.
Services growth may signal recession's end

An auction of long-dated government bonds was oversubscribed as investors showed appetite for government debt.
Investors hungry for long-dated gilts

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