27 October 2011, 08:58

Eurozone leaders agree on debt deal

Eurozone leaders agree on debt deal

The eurozone leaders have agreed on a debt deal following late-night talks in Brussels. The German Chancellor Angela Merkel, the French President Nicolas Sarkozy and the IMF leader Christine Lagarde announced that private banks had agreed to take a 50% loss on their 350 billion euros Greek debt.

The eurozone leaders have agreed on a debt deal following late-night talks in Brussels.

The German Chancellor Angela Merkel, the French President Nicolas Sarkozy and the IMF leader Christine Lagarde announced that private banks had agreed to take a 50% loss on their 350 billion euros Greek debt.

The deal also approved a mechanism to boost the eurozone's main bailout fund to 1 trillion euros.

(TASS, BBC)

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