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Wednesday, August 17, 2011

Markets fall as Merkel-Sarkozy debt talks disappoint

Investors were hoping for more detailed proposals on how to solve the eurozone debt crisis

European shares have fallen after talks between French and German leaders did little to calm investors' fears that the debt crisis could spread further.

The two leaders agreed to press for closer economic integration within the eurozone, but did not announce any specific measures to tackle the crisis.

Shares opened sharply lower before recovering, with Frankfurt's Dax index down 0.5% and London's FTSE 100 flat.

The gold price also hit a new a record high, reflecting continued uncertainty.

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