Thursday, October 27, 2011

European bailout fund

EU Sets 50% Greek Writedown, $1.4T in Crisis Fight

European leaders cajoled bondholders into accepting 50 percent writedowns on Greek debt and boosted their rescue fund’s capacity to 1 trillion euros ($1.4 trillion) in a crisis-fighting package intended to shield the euro area.
Comment: A step taken back from the abyss.

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