U.S. lawmakers over the weekend said it remained possible to reach a deal to avert the fiscal cliff, but they noted that time was running short. The fiscal cliff refers to a combination of around $600 billion in spending cuts and tax hikes set to begin taking effect on Jan. 1 unless the White House and congressional Republicans reach a budget deal.
“The only real story appears to be the fiscal situation in the U.S. and the diminishing prospect of a deal before year-end,” wrote strategists at FxPro in London.
Read more: Europe stocks slip on fiscal-cliff fears - Europe Markets - MarketWatch
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