Market Relief As Eurozone Leaders Finally Deliver Rescue Deal To Force Greek Debt 'Haircut' And €1Trillion Bailout Fund -- Daily Mail
Markets rose today after eurozone leaders reached a €1trillion deal that will force banks to take a 50 per cent 'haircut' on their Greek debts, increase a bailout fund for indebted euro nations and beef up cash buffers at the continent's banks.
The rescue package is needed to stave off a Greek default on its sovereign debts and subsequent 'contagion' to other EU countries as bank lending dries up.
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