Britannia Radio

EU officials hatch three-pronged 'grand plan' to save the eurozone and prevent

a Greek default spreading

The aim is to build a protective 'firebreak' around Greece, Portugal and Ireland to prevent the sovereign debt crisis spreading to Italy and Spain.
Sources told the Daily Telegraph that the plan was thrashed out at the G20 meeting in Washington.

Sources said it is hoped recapitalising the banks will reassure markets that Greek or Portuguese defaults would not set off a chain reaction.
http://www.dailymail.co.uk/news/article-2041263/EU-officials-hatch-pronged-grand-plan-save-eurozone-prevent-Greek-default-spreading.html?ito=feeds-newsxml

£1.75 trillion deal to save the euro

It would involve the bailing out those European banks - mostly French - most at risk from their massive lendings to tottering economies.
http://www.telegraph.co.uk/news/worldnews/europe/eu/8786945/1.75-trillion-deal-to-save-the-euro.html

Germany Demands "Managed" Greek Default And 50% Bond Haircuts In Exchange For Expanding EFSF, Peripheral "Firewall"

http://www.zerohedge.com/news/germany-demands-managed-greek-default-and-50-bond-haircuts-exchange-expanding-efsf-peripheral-f