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European Commission President Jose Manuel Barroso speaks with the media Thursday as he arrives for an EU summit of eurogroup members at the EU Council building in Brussels.

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Europe nears agreement on Greek crisis bailout

Greece would avoid paying back some of its billions in loans and a Europe-wide rescue fund would gain new powers to swiftly aid other debt-stricken countries under a sweeping deal being negotiated by European Union leaders Thursday in a last-ditch attempt to contain the continent’s potentially devastating debt crisis.

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