EU reaches agreement on Greek bonds

The Euro Summit on 26 October 2011 (a continuation of an earlier summit on the 23 October 2011) agreed a three-pronged set of measures to address the current tensions in financial markets and restore confidence that the eurozone can successfully deal with its sovereign debt crisis.

The three set of measures embraced:

+ a set of measures to help Greece
+ a stronger European Financial Stability Facility (EFSF)
+ raising confidence in the banking sector.

Eurozone leaders agreed on further strengthening of economic and fiscal coordination and surveillance. They approved ten measures to improve the governance of the Euro area. President Van Rompuy was given the mandate to identify possible steps to strengthen the economic union, including exploring the possibility of limited Treaty changes.

PressEurop, 26.10.11: Zero hour for the euro has come http://www.presseurop.eu//en/content/press-review/1102851-zero-hour-euro-has-come

Le Monde, 26.10.11: Putting out fire while rebuilding the house http://www.presseurop.eu//en/content/article/1100841-putting-out-fire-while-rebuilding-house

IIF: Press Release, 27.10.11: Statements by Dr. Ackermann and Mr. Dallara on behalf of the IIF on the new Greek agreement http://www.iif.com/press/press+216.php

ESO: Background information: Markets find eurozone deal short on detail http://www.europeansources.info/record/markets-find-eurozone-deal-short-on-detail/

European Council: Press Release, 27.10.11: Way out of the debt crisis http://www.european-council.europa.eu/home-page/highlights/way-out-of-the-debt-crisis.aspx?lang=en

Council of the European Union: Eurogroup Statement, Brussels, 26 October 2011 http://www.consilium.europa.eu/uedocs/cms_Data/docs/pressdata/en/ec/125644.pdf

ESO: Background information: Analysis: A weekend to save the euro http://www.europeansources.info/record/analysis-a-weekend-to-save-the-euro/

BBC News, 27.10.11: Leaders agree eurozone debt deal after late-night talks http://www.bbc.co.uk/news/world-europe-15472547

Deutsche Welle, 27.10.11: EU leaders burn midnight oil at marathon debt summit http://www.dw-world.de/dw/article/0,,15490951,00.html

France24, 27.10.11: Eurozone leaders agree to write off 50% of Greek debt http://www.france24.com/en/20111027-eurozone-leaders-summit-brussels-greece-debt-crisis-bailout

Spiegel Online International, 27.10.11: Europe Slashes Greek Debt by 50 Percent http://www.spiegel.de/international/europe/0,1518,794278,00.html

EurActiv, 27.10.11: EU cuts back-room deal on Greek debt write-down http://www.euractiv.com/euro-finance/eu-cuts-backroom-deal-greek-debt-write-news-508599

Website: Institute of International Finance http://www.iif.com/

EUObserver, 27.10.11: Eurozone chiefs reach deal with bank bosses on Greek haircut http://euobserver.com/19/114099

Kathimerini, 27.10.11: Eurozone leaders, bankers agree 50 pct haircut for Greece http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_16493_27/10/2011_412098

European Parliament: Press Release, 27.10.11: European Council eurozone deal: MEPs relieved, yet wary of the future http://www.europarl.europa.eu/en/headlines/content/20111014FCS29306/9/html/European-Council-eurozone-deal-MEPs-relieved-yet-wary-of-the-future

IMF: Press Release, 27.10.11: Statement by IMF Managing Director Christine Lagarde on the Eurozone Leaders' Summit http://www.imf.org/external/np/sec/pr/2011/pr11382.htm

EurActiv, 28.10.11: Europe sighs relief after summit, but doubts linger http://www.euractiv.com/future-eu/europe-breathes-easier-summit-deal-ponders-uncertainties-news-508623

Berliner Zeitung, 27.10.11: The fake euro rescue http://www.presseurop.eu/en/content/article/1107911-fake-euro-rescue

Eleftherotypia, 27.10.11: We are all at Germany’s mercy (via PressEurop) http://www.presseurop.eu/en/content/article/1108051-we-are-all-germany-s-mercy

Libération, 27.10.11: Birth of a United States of Europe (via PressEurop) http://www.presseurop.eu/en/content/news-brief-cover/1106731-birth-united-states-europe

Daily Express, 27.10.11: For Daily Express, Merkel means war (via PressEurop) http://www.presseurop.eu/en/content/news-brief-cover/1106481-daily-express-merkel-means-war

EUObserver, 27.10.11: Germany makes Greece pay with sovereignty for new bail-out http://euobserver.com/19/114098

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