The much awaited EU Summit has agreed to recapitalise weak banks and increase the bail out fund, but details of how to do it has been put off until next month. Trevor Williams, chief economist, Lloyds TSB Corporate Markets tells CNBC-TV18 that the Street is quite pleased with the agreements in the near-term, but worries persist going forward.
Considering the previous 21% voluntary haircut was not fully agreed upon, this 50% agreement for private lenders seems a little far-fetched.
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