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Agreement in Brussels Europe Slashes Greek Debt by 50 Percent

Meeting late into the night, euro-zone leaders agreed to reduce Greece's vast debt burden by half. In addition, the euro backstop fund will be boosted to over a trillion euros. Europe hopes the measures will finally put an end to the spread of the debt crisis.
German Chancellor Angela Merkel was all smiles on Thursday morning.

German Chancellor Angela Merkel was all smiles on Thursday morning.

AP
cgh -- with wire reports