The British Chancellor, George Osborne, said European leaders have managed to make real progress after 10 hourse of talks and endorsed a provisional plan to provide European banks with 100 billion euros in capital in order to safeguard these banks for being exposed for further impacts from debt-burdened Greece.

The agreement is expected to dramitaclly increase Euro-Zone resuce funds and shrink down Greece debt by 60 percent and to prevent the crisis from being spread to most-exposed countires such as Italy and Spain.