EU agrees to fresh bank bail-outs

The European Union’s 27 member states have finally agreed on one of the key elements to a comprehensive solution to the eurozone’s debt crisis, a recapitalisation of the region’s banks.

Donald Tusk, the Polish prime minister and current chair of the six-month EU rotating presidency, said following a summit of all the states in the Union that “after some heated debate,” the EU’s premiers and presidents have adopted a plan that amounts to a fresh bail-out of the banks.

Under the a...