Bloomberg News

Sarkozy Says EU Bailout Fund Leveraged as Much as Five Times

October 26, 2011

Oct. 27 (Bloomberg) -- French President Nicolas Sarkozy said the euro region’s bailout fund will be leveraged by four to five times. Investors have agreed to a voluntary writedown of 50 percent on Greek debt, equivalent to 100 billion euros, he told reporters in Brussels today. He was speaking after a summit of European leaders. The International Monetary Fund will be a partner in Europe’s bailout funds, Sarkozy said.

To contact the reporter on this story: Helene Fouquet in Paris at hfouquet1@bloomberg.net

To contact the editor responsible for this story: John Fraher at jfraher@bloomberg.net


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