The past week’s top story was by far the marathon EU summit that finally produced an agreement to tackle the debt crisis that has been rattling the continent for two years. This edition will therefore be devoted entirely to the summit deal.
In short, Greece’s debt will be reduced, private banks and insurer are asked to accept 50 percent losses on the Greek bond holdings, and the rescue fund EFSF will be strengthened, supported also by non-European investors.
Is that the ultimate solution to the crisis? Host Stefan Grobe talks about the main aspect of the political deal with Jens Larsen, Chief European Economist at RBC Capital Markets in London.