European Council
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Leaders agree eurozone debt plan in Brussels

European leaders have reached a three-pronged agreement described as vital to solve the region's huge debt crisis.

They said banks holding Greek debt accepted a 50% loss, the eurozone bailout fund will be boosted to about 1tn euros (£880bn; $1.4tn) and banks will have to raise more capital.

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

Matthew Price reports from Brussels.

  • 27 Oct 2011
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