'Solving eurozone crisis is a long way off': Warning leads global stock markets to tumble

Stock markets around the world slammed into reverse yesterday after Germany warned that a solution to the debt crisis in the Eurozone was a long way off.
German Chancellor Angela Merkel warned the deadlock might not be broken until next year – dashing hopes of a comprehensive rescue plan emerging this weekend.
It came as a leading forecaster in London said the crisis in the single currency bloc will plunge Britain back into recession.

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