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Almunia: Bank bailouts 'possible' if debt crisis flares, AP reports

Joaquin Almunia, the VP of the European Commission, told a conference in London that bank bailouts are a possibility if the debt crisis flares up again or if the latest stress tests reveal "significant capital shortfalls," the Associated Press reports. The government's preferred method going forward is to force investors and depositors to pay first, Almunia said.