Page last updated at 01:24 GMT, Monday, 10 May 2010 02:24 UK

EU agrees emergency Eurozone fund

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EU finance ministers have agreed on an emergency package worth 500bn euros (£430bn), to stop the Greek debt crisis from spreading to other Eurozone countries.

There had been fears that without a deal, the euro would come under increasing pressure in the financial markets.

EU Monetary Affairs Commissioner Olli Rehn said the agreement showed the ECB would "defend the euro whatever it takes".

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