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THE DOWNLOAD: What Europe Actually Accomplished And Why Its Crisis Is Far From Over

After negotiating for more than 10 hours, EU leaders have come up with an adequate plan to make steps in resolving the crisis.

Key decisions include “voluntary” 50% haircuts on holdings of Greek bonds that will cut Greek debt by $139 billion, and leverage of the EFSF that will increase its firepower by 4-5 times, to somewhere in the range of $1.4 trillion.

But the crisis is far from over, says Simone Foxman. Watch below.

 

Produced by Kamelia Angelova & Robert Libetti

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