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Marathon talks produce a euro zone rescue deal
http://www.euronews.net/ Europe’s leaders have finally agreed a euro zone rescue plan after marathon talks lasting more than eight hours.
The main points of the discussions surround three issues – the recapitalisation of the banks. This will act as a firewall against contagion from debt ridden countries.
The second area is a bank 50 per cent write-off of Greek debt with the remaining possibly being given preferable rates of interest.
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