Eurozone Debt Deal Agreed
Published / Last Updated on 26/10/2011
Eurozone Debt Deal Agreed.
Eurozone leaders have reached an agreement they believe is vital to resolving the debt crisis. As part of the deal, banks have agreed to take a 50% loss on Greek debt.
During a press conference, French President Nicolas Sarkozy stated that the eurozone has adopted a credible and ambitious response to the debt crisis.
Alongside the Greek debt cut, eurozone leaders have also called on the region's banks to increase the amount of money they have at their disposal. They are also planning to boost the power of a region-wide rescue fund.