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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