Simmering Euro Crisis: Berlin Eyeing Early Launch of Permanent Bailout Mechanism

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The German government is considering bringing forward the launch of the planned permanent bailout fund, the European Stability Mechanism, to 2012 from 2013, SPIEGEL has learned. Meanwhile Chancellor Angela Merkel, facing a crucial parliamentary vote on Thursday on the temporary rescue fund, has warned that a Greek default would "destroy the confidence of investors."

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