Europe Boosts Rescue Fund; Sets 50% Greek Writedown

Europe Boosts Rescue Fund; Sets 50% Greek Writedown

Oct. 27, 2011
Oct. 27 (Bloomberg) -- European leaders persuaded bondholders to take 50 percent losses on Greek debt and boosted the firepower of the rescue fund to 1 trillion euros ($1.4 trillion), responding to global pressure to step up the fight against the financial crisis. David Tweed and Mark Barton report on Bloomberg Television's "First Look." (Source: Bloomberg)
Bloomberg
Correction: Clarification: