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All that but first to Europe where they have a plan and we can debate whether to work long term or not but the market likes it today tackling the debt crisis with a move that includes.
Setting some new bank rules.
Yeah and haircuts on Greek bond Greek debt as well fifty cents on the dollar actually Webster that's just part of it's -- or anything.
Not really guys it certainly helps but is this a long term solution has -- I was asking no but it doesn't buy time especially for grace the three key points still have a lot of missing details though.
Banks holding Greek debt accepted.
May be mandated a 50% loss but that may not be enough Germany wanted 60% and the IMF set 75%.
Was a lot more realistic second.
The Euro zone bailout fund will be boosted to one point four trillion dollars.
How will it -- -- wearable that money comes from is still being figured out some analysts say.
Just not enough of the major economy like it's -- Spain collapses and lastly some seventy European banks must raise about a 150 billion dollars in new capital.
By June of next year and there are questions where that money will come from.
As well but the markets like it for now they did something also today French president Nicholas Sarkozy giving a -- to Chinese leader.
Good gym -- to see -- China would be interested in contributing to Europe's bailout fund will be hearing more about that.
But the markets -- -- it and the French banks have the most exposure to Greek debt.
Really -- fire today some of the -- 171820%.
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