Angela Merkel
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Europe Leaders praise eurozone debt crisis plan

European leaders have given their backing to a plan to tackle the eurozone's debt crisis following a marathon summit in Brussels.

The three-part plan requires banks to write-off 50% of Greek debt and to raise more capital to protect them against losses resulting from any future government defaults.

The eurozone bailout fund will also be boosted.

Critics have accused policymakers of not doing enough to resolve the issues, contributing further to problems and fuelling uncertainty.

Stephen Evans reports from Berlin.

  • 27 Oct 2011
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