Latest EU Summit Leaders deal will not prevent a further deepening of the crisis | Joe Higgins.ie

Latest EU Summit Leaders deal will not prevent a further deepening of the crisis Joe Higgins.ie: It is said that the German Government was looking for a mandatory 60% write down by European banks on the money lent by them to Greece. The banks vehemently resisted and in the end they got substantially less burden to bear. The 50% write down that has been announced after the Summit is in fact ‘voluntary’ and there is already much speculation that many of the banks involved will not accept this.?