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European shares retreat ahead of EU policymakers' meet
* FTSEurofirst down 1.6 percent * Index corrects after "oversold" bounce * Banks, miner top fallers * Troubled EZ govt bond yields rise By David Brett LONDON, May 23 (Reuters) - Banks and basic resource stocks led European shares sharply lower around midday on Wednesday, correcting a two-session rally in volatile trade, as investors turned cautious ahead of a meeting of European Union policy makers.