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CNNW World Business Today October 27, 2011



good afternoon from cnn hong kong. i m andrew stevens. and good morning from london. i m felicia taylor. it was a long time coming, but european leaders filly got there. shortly before 4:00 a.m. in brussels the announcement we d all been waiting for. european leaders struck a deal on the eurozone debt crisis. here are the key points. the agreement includes a compromise with private investors. holders of greek bonds have greed take a 50% write down on the value of those assets. also the effective strength of the bailout fund will be boosted to about a trillion euros. but european banks will be told to brace for further turmoil. the banks zill to increase their capital reserves to 9% to protect themselves against potential losses following those write downs or defaults that possibly could occur further down the line. at a press conference in the early hours of the morning in brussels, the european council president emphasized the need for tighter fiscal discipline wit ....

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