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Portugal bail-out agreed by eurozone

16 May 2011 Last updated at 23:42 BST

Eurozone financial leaders have unanimously approved a 78bn euro (£68bn; $110bn) bail-out for Portugal. The group, which has been meeting in Brussels, said the loan was to safeguard financial stability in the European region.

In return Portugal, which formally requested the loan last month, has agreed to reform its health care system and pursue an "ambitious privatisation programme".

Speaking after the meeting, the European monetary affairs commissioner, Olli Rehn, welcomed the deal.