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Monday's Headlines: European governments agree on euro zone crisis measures

European governments have decided on several new measures aimed at containing the euro zone crisis, news media are reporting. European Union leaders held an emergency summit at European Council headquarters over the weekend, the 13th crisis management summit in less than two years, Bloomberg notes.

"The new effort, which leaders hope to finalize at another summit on Wednesday, involves a sweeping recapitalization of European banks, a substantial restructuring of Greece's debts, a bigger bailout fund and even possibly fresh efforts to entice sovereign-wealth funds in China and elsewhere to come to Europe's aid," The Wall Street Journal writes.

European stocks reacted favorably to the progress, and to news that fresh recapitalization rules would be weaker than expected. Governments also agreed to require lenders to accept losses on Greek debt holdings instead of forcing a restructuring.

However, negotations continue on the extent of Greek bond haircuts. Large banks are willing to write down up to 40 percent of Greek debt, while politicians are pushing for at least 50 percent, Reuters says.

Other News:

Swiss banks seen settling U.S. tax evasion charges by paying huge fines, naming secretive clients. [Bloomberg]

Bank bonuses remain intact despite financial woes and outside calls for reform. [Financial Times]

Goldman Sachs withdraws donation after discovering charity's invitation to Occupy Wall Street. [Wall Street Journal]

Deutsche Bank, UBS likely to cut assets and jobs further as they battle euro crisis. [Businessweek]

Bank of France says French banks need less than 10 billion euros to meet new recapitalization requirements. [Reuters]

Dutch government-owned ABN Amro to buy assets being sold by troubled banks amid crisis. [Financial Times]

China Investment Corp may join Blackstone to invest in RBS distressed property loan portfolio. [Wall Street Journal]

German, French, Italian banks seen tapping investors first amid recapitalization push. [Dow Jones]

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