UK's George Osborne upbeat after eurozone talks
Chancellor George Osborne has declared "real progress" after a meeting of EU finance minister in Brussels on the eurozone debt crisis.
A provisional deal will see banks raise more than a 100bn euros ($140bn; £87bn) in new capital to shield them against possible losses to indebted countries.
It is conditional on a wider accord, including a write-down of Greek debt.
UK banks will not need to raise any new funds, partly because they have not made substantial loans.
22 Oct 2011
- From the section Business