Notably, this revision adds a shutter button along the right edge of the handset, although like the Photon, it's only a single-stage mechanism, which is quite a bummer.

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His own reforms, such as introducing a simplified, single-rate foreign-exchange mechanism, private banks and mobile phones, remain on the drawing-board.

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The EU is also moving towards banking union within the eurozone and is planning to have a eurozone-wide regulatory system, the Single Supervisory Mechanism (SSM), which it hopes will begin its work by the start of next year.

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If approved, the new limit up-limit down mechanism would replace the existing single stock circuit breakers, which were approved on a pilot basis shortly after the market events of May 6, 2010.

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And governments must start putting in place a mechanism for managing sovereign-debt restructurings within the single-currency zone.

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EU's exchange-rate mechanism for at least two years before acceding to the single currency.

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And he claims to have a geography-defying plan to lead Britain into the heart of Europe through the mechanism of the single currency.

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Anglo-Saxon sceptics about Europe's single currency gleefully predict that these strains will blow the euro apart, just as they did the exchange-rate mechanism in the early 1990s.

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