EU Leaders Agree on Debt Deal

Thursday, October 27, 2011

European leaders reached a deal crucial to resolving the euro zone debt crisis after all-night meetings on Thursday. Under the accord, banks have agreed to take a 50 percent loss on Greek debt. European markets were up after news of the deal broke. Leaders also agreed to grow euro zone's bailout fund to $1.4 trillion dollars. European banks will also need to raise more capital to protect against future government defaults.

Christian Fraser, correspondent for the BBC, reports on the details of the agreement.

Guests:

Christian Fraser

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.