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BRUSSELS -- A summit of eurozone leaders reached a tentative agreement with Greece on Monday for a bailout program that includes serious reforms and aid, removing an immediate threat that Greece could collapse financially and leave the euro.Nine hours after a self-imposed deadline passed, the leaders announced the breakthrough early Monday.If the talks had failed, Greece could have faced bankruptcy and a possible exit from the euro, the European single currency that the country has been a part of since 2002. No country has ever left the joint currency, which launched in 1999, and there is no mechanism in p
yeezy lace for one to do so.As CBS News correspondent Holly Williams reports, the final amount of the bailout taking shape has yet to be agreed, but it is believed Greece needs in the region of $90 billion to avoid financial collapse.
asics sneaker nike dunk EU leaders continue to haggle over Greecersquo future 02:26 For three days of negotiations between Greece and its international creditors, Greek Prime Minister Alexis Tsipras held out for a better deal to sell to his reluctant legislature in Athens this week, even though financial collapse is getting closer by the day. A breakthrough came in a meeting of Tsipras, German Chancellor Angela Merkel, French President Francois Hollande and EU president Donald Tusk. Ujkw Baghdad Blasts Kill 62
EU leaders endorsed a $2.3 trillion continent-wide emergency bailout for the banking sector at summit talks Wednesday, and turned to debate other measures to prevent the global financial crisis from stalling the economy.Polish Finance Minister Jacek Rostowski, along with other EU officials and diplomats, confirmed that the leaders had endorsed the plan.The agreement paves the way for all 27 EU nations to shore up national banks and other financial institutions. Under the plan s broad principles, individual countries put up a total of $2.3 trillion in guarantees and emergency aid to help banks.The deal comes after Britain and the 15 countries that use the euro passed the plan Sunday and
stanley cup it is meant to reassure still shaky financial markets and investors that all is being done to stop the meltdown.The plan leaves individual nations flexibility to chose from a range of measures such as buying shares in banks and guaranteeing savings and interbank loans. The European moves are modeled on Britain s euro64 billion $88 billion plan to partly nationalize major banks. British Prime Minister Gordon Brown
stanley thermosflasche has also promised to guarantee billions of euros of interbank loans to restore confidence in the financial sector.The joint action, along with broadly similar U.S. plans that include taking stakes in big banks, have helped turn around severe decli
stanley quencher nes in world stock markets. But credit markets remain in distress with fearful banks willing to lend to each other only at abnormall
