Washington Post NEWS ALERT: European leaders agree to plan designed to stem debt crisis

European leaders agree to plan designed to stem debt crisis

European leaders moved early Thursday to stem the debt crisis gripping the continent by agreeing to a plan that imposes steep losses on investors holding troubled Greek bonds and boosts the firepower of the region’s bailout fund to as much as a trillion dollars.

After marathon negotiations that continued well past midnight, European leaders said that banks and other major investors in Greek bonds agreed to taking losses of up to 50 percent.

Read more at:
http://www.washingtonpost.com/world/europe/merkel-wins-german-lawmakers-backing-for-plan-to-boost-bailout-fund/2011/10/26/gIQA1R5KJM_story.html

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