Eurozone Debt Talks Progress

European finance ministers have declared that they are close to a deal designed to shield them against future losses to indebted governments. The BBC reports that UK Chancellor of the Exchequer George Osborne declared “real progress” had been made. Eurozone countries are currently seeking to use a 1 billion Euro insurance fund to protect their banks from a potential Greek default, which would result in disastrous losses of investment across Europe. German Chancellor Angela Merkel has stated that this deal represents a more realistic outlook on Greece and will help to protect the Euro into the future.

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