Barroso calls on eurozone to speed up completion of EFSF legislation

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José Manuel Barroso, the president of the European Commission, on Thursday urged member states to speed up the approval of enhancements to the eurozone bailout mechanism, amid concerns contagion effects from the sovereign debt crisis are spreading to Italy and Spain.

In a letter to European heads of state, Barroso expressed "deep concern" to developments in the sovereign bond markets of Italy, Spain and other euro area member states, noting that while plans to increase the flexibility for the

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