George Osborne
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Osborne: Eurozone agreement 'very good progress'

The Chancellor, George Osborne has said European leaders had made "very good progress", in coming to an agreement about how to tackle the eurozone debt crisis.

Speaking in Parliament, Mr Osborne said ending the crisis would be the single biggest boost to the British economy this Autumn.

After late night talks in Brussels, European officials announced that the main bailout fund will be more than doubled, and half of the Greek debt owned by banks will be written off.

But Mr Osborne said the UK taxpayers wouldn't contribute to the fund .

Ben Wright reports.

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