Eurozone leaders force banks to take ‘voluntary’ 50% haircut on Greek debt; Rescue fund firepower to be boosted
Oct 27th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Eurozone leaders agreed Thursday morning with Greek sovereign debt bondholders, mainly banks, to take a 'voluntary' 50% haircut. They also agreed to boost the firepower of the rescue fund to €1trn and ensure that banks will add more capital.