So is Europe saved?

just wanted to know what people think about this new deal Europe has reached. Are we out of the woods? I haven`t heard anyone talk about the possibility of cutting Greece`s debt; this does seem to "fix" the problem at least for the next months...



BRUSSELS (AP) — European leaders clinched a deal Thursday they hope will mark a turning point in their two-year debt crisis, agreeing after a night of tense negotiations to have banks take bigger losses on Greece's debts and to boost the region's weapons against the market turmoil.

After months of dawdling and half-baked solutions, the leaders had been under immense pressure to finalize their plan to prevent the crisis from pushing Europe and much of the developed world back into recession and to protect their currency union from unraveling.

World stock markets surged higher Thursday on the news. Oil prices rose above $92 per barrel while the euro gained strongly — a signal investors were relieved at the outcome of the contentious negotiations.


[link to news.yahoo.com]