ATHENS — European leaders moved early Thursday to stem the debt crisis gripping the continent by agreeing to a plan that imposes steep losses on investors holding troubled Greek bonds and boosts the firepower of the region’s bailout fund to at least a trillion dollars.
The losses are much larger than private investors accepted under a deal this summer. Since then, Greece’s economy has steadily eroded, making it even harder for the government to repay its bonds.
Graham Watson, a member of the European Parliament, talks about steps taken by the region's heads of state to solve the debt crisis and the need for the U.S. to implement "similar" measures to address its economic woes. He speaks from Strasbourg with Francine Lacqua on Bloomberg Television's "On the Move." (Source: Bloomberg) (/Bloomberg)