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EU official: banks to take 50pct cut on Greek debt
EU official: banks to take 50 percent cut on Greek debt in key deal in eurozone debt crisis
By The Associated Press

BRUSSELS (AP) ' A European Union official says the currency union's leaders have reached a deal with banks to take losses of 50 percent of their Greek bonds in a key move to solve the eurozone's debt crisis.

The official was speaking early Thursday morning on condition of anonymity pending an official statement.

A second official confirmed that there was a voluntary deal.

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