Friday, March 2, 2012

A summary of the measures agreed to save the euro

A glance at the major measures adopted by eurozone heads of government early Thursday after marathon negotiations in Brussels:

— A plan to reduce Greece's debts to a level at which the country can begin to pay them down instead of seeing them continue to rise. Private creditors who have lent money to Greece agreed, after difficult bargaining with eurozone leaders, to accept 50 percent losses on the bonds they hold. The goal is to reduce Greece's debt to 120 percent of gross domestic product by 2020. Under current conditions, it would have ballooned to 180 percent.

— A program to shore up the continent's banks by requiring them to expand their rainy-day funds, in part so they …

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