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Eurozone deal breakthrough

Tuesday 27 November 2012 7:00

A deal has finally been brokered between eurozone finance ministers and the IMF over a bailout for Greece.

Debts will be cut by 40bn euros (£32bn) and the next tranche of bailout loans worth 44bn euros will be released.

Greek Prime Minister Antonis Samaras welcomed the deal, saying "a new day begins for all Greeks".

The breakthrough reportedly came after more than 10 hours of talks in Brussels during the eurozone's third meeting in two weeks on Greece.