Stocks Poised to Soar on European Debt Deal

Bianna Golodryga explains how the European Union plans on dealing with debt.
0:44 | 10/27/11

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Transcript for Stocks Poised to Soar on European Debt Deal
With stocks on the rise this morning after big news overnight from Europe and let's get right to it with -- GMA anchor. Beyond -- ability go beyond that's right good morning Joshua was an important development at 4 AM local time European leaders finally announced something investors had been waiting for. A deal -- helps recently -- massive debt crisis that -- says. That it threatened to derail the economy -- recovery here in the US as well so here's some of the highlights the deal will write off 50% of Greece's public debt. And it will forced European banks to raise more capital as a cushion. He'll also expand -- European bailout fund to protect other countries like Italy and Spain now. Let's make this clear this does not prevent a crisis from happening but a major hurdle seems to have been resolved.

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