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News Summary: Fitch optimistic on euro debt crisis

The Associated Press

CRISIS PAST?: A top analyst for the credit ratings agency Fitch says the worst of Europe's debt crisis is probably over and the odds are that no country will drop out of the euro.

MUDDLING THROUGH: Douglas Renwick, senior director of Fitch Rating's European sovereign credit analysis, said the 17 EU countries that use the euro have shown their capacity to muddle through to some sort of resolution of their 3-year debt crisis and that a breakup of the bloc is now "very unlikely."

BEWARE OF FLARE-UPS: But he added there is "plenty more" that needs to be done and it may take the rest of the decade. He expects flare-ups and bouts of uncertainty in markets will likely continue.