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2012-03-28 — nytimes.com
The European Union should increase its financial firewall to about 1 trillion euros to restore market confidence in the euro zone and prevent the spread of fiscal contagion, the head of the Organization for Economic Cooperation and Development, Ãngel GurrÃa, said on Tuesday.
Mr. GurrÃa's comments came a day after Germany dropped its opposition to increasing the Continent's total bailout capacity to more than 690 billion euros, or about $920 billion. That could help stop the spread of the crisis to large economies like Spain's.
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