By GABRIELE STEINHAUSER
BRUSSELS
Eurozone leaders say they have agreed on the cornerstones of a comprehensive solution to the currency union's crippling debt crisis.
EU President Herman Van Rompuy says governments will boost the effective lending capacity of the region's bailout fund to euro440 billion.
He says they will allow the fund to buy government bonds on the primary market as part of a national bailout program.
He says they will also lower the interest rates for Greece's bailout by 1 percentage point.
On top of that, Greece will also get seven years to repay its loans, up from 3 1/2 years.
Source: www.businessweek.com
BRUSSELS
Eurozone leaders say they have agreed on the cornerstones of a comprehensive solution to the currency union's crippling debt crisis.
EU President Herman Van Rompuy says governments will boost the effective lending capacity of the region's bailout fund to euro440 billion.
He says they will allow the fund to buy government bonds on the primary market as part of a national bailout program.
He says they will also lower the interest rates for Greece's bailout by 1 percentage point.
On top of that, Greece will also get seven years to repay its loans, up from 3 1/2 years.
Source: www.businessweek.com
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