In the end Europe faces a stark choice: to force some of the weaker countries out of the eurozone or for the stronger countries to assume responsibility for the bloc's debts as a whole.

BBC: Stark choices for Europe

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CNN: Legal Disclosures

It would allow the ECB to assume full supervisory responsibility over any credit institution, particularly those which have received or requested public funding, with all banks covered by the SSM by the start of 2014.

BBC: Deutsche Bank shares jump on profits