European Leaders Reach Deal to Help Banks

Friday, June 29, 2012

After 13 hours of emergency talks, European leaders have reached an agreement today to directly recapitalize some of the continent's struggling banks. The plan is to use the euro zone's bailout fund to directly support the troubled banks in countries including Italy and Spain. 

The plan would help the banks without adding to the sovereign debt of the governments of these countries. The BBC's Andrew Walker offers more explanation from Brussels.

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