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European Sovereign Debt Crisis Latest News: European Central Bank Leaves Interest Rates at Record Low

Wochit 0:48 mins

The central bank kept its main rate at 0.5 percent, as expected, choosing not to respond yet to signs of increasing financial tension in the euro zone. The European Central Bank has left its key interest rate unchanged at a record low 0.5 percent, holding off on more stimulus as it waits for a recovery in the 17 European Union countries that use the euro. Portugal's financial markets went into a nosedive as the government teetered on the brink of collapse, alarming investors and reigniting concerns about the eurozone's strategy for dealing with its prolonged financial crisis.

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