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Business Report: EU writes off half of Greek debt
An breakthrough for Europe’s debt crisis may have been struck. EU banks have agreed to a 50 percent write-off of Greece’s debt reducing the burden by 100 billion euros. Greek banks are to be re-capitalized and the European Financial Stability Facility, the bail-out mechanism, will be boosted. Henk Potts makes sense of the latest reports coming out of the European Summit in Brussels:
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