European officials said they would reveal a euro-zone rescue plan by Oct. 23. Though it is unclear how such a detailed rescue plan could be put in place by Oct. 23, officials said they expected to “decisively address the current challenges through a comprehensive plan." The plan is expected to include a new Greece bailout, a call for higher capital levels for banks, and putting more money into the euro-zone’s bailout fund. Treasury Secretary Tim Geithner said, “They clearly have more work to do on the strategy and the details, but when France and Germany agree on a plan together and decide to act, big things are possible.” Asian shares opened higher on news of the potential fix for Europe.
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