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European Court Upholds Key Anti-crisis Program

The European Court of Justice has delivered a ruling strengthening the European Central Bank's (ECB) hand in intervening in financial markets — backing that could come in handy amid fears Greece will default on its debts and possibly leave the 19-country euro currency union. In a decision Tuesday in Luxembourg, the court upheld the ECB's 2012 offer to buy the bonds of countries whose governments face excessive market borrowing costs. The offer has helped reassure markets,...

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