Klaus Regling, CEO of the European Financial Stability Facility, said efforts by euro-zone leaders to contain the sovereign-debt crisis have been effective. "The euro-area strategy to resolve the crisis is working," Regling said. "Markets have recognised the progress made by both member states and the euro area as a whole. Yields have fallen significantly since November last year for euro-area sovereign bonds and also for the EFSF bonds." The EFSF will contribute more than €109 billion to a second rescue programme for Greece, Regling said.
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