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Eurozone finance ministers reach Greece bailout deal

27 November 2012 Last updated at 07:57 GMT

Eurozone finance ministers and the IMF have reached a deal on an urgently needed bailout for debt-laden Greece.

They have agreed to cut debts by 40bn euros ($51bn; £32bn) and have paved the way for releasing the next tranche of bailout loans - some 44bn euros.

James Kelly reports.