European leaders announced $229 billion of additional aid for Greece. They also gave their $440 billion Euro rescue fund the ability to purchase debt from Euro nations under pressure in the markets. The leaders hope that the plan will prevent the debt crisis from spreading to Spain and Italy.
To read a related Bloomberg article, please click here:
http://www.bloomberg.com/news/2011-07-21/euro-area-leaders-may-accept-greek-default.html
James Sutliff