Chancellor George Osborne
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George Osborne: 'Good progress' on eurozone crisis

European leaders have agreed a three-part plan which they say will help solve the debt crisis in the eurozone.

As part of the plan, the leaders said private banks holding Greek debt had accepted a loss of up to 50%.

Banks must also raise more capital to protect them against future crises, and the euro bailout fund will be boosted to almost a £1bn.

Mr Osborne told the House of Commons that there was still work to do in order to ''finish the job''.

  • 27 Oct 2011
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