Greece rescue plan worth £20bn agreed as "last resort"

A £20bn bailout plan to help debt-laden Greece has been agreed by all 16 eurozone countries.

The programme, which includes IMF money and was described as a "satisfactory move" by the Greek PM, would only be used if market lending to Greece dried up. Eurozone nations would grant co-ordinated bilateral loans, totaling some two-thirds of the funding, French President Nicolas Sarkozy after a late Thursday summit in Brussels. The president of the European Council, Herman Van Rompuy, said the deal was significant "not just for Greece, but for the stability of the eurozone", while European Commission president Jose Manuel Barroso said he was "extremely happy we've reached this deal"...