European leaders have agreed a restructuring of a financial bail-out fund that they hope will resolve the bloc’s debt crisis. Eurozone ministers bowed to German demands to renegotiate the time-frame for contributions to the massive fund. But the deal was overshadowed by concerns about Portugal and a growing row that the UK may be forced to contribute to a financial bail-out.
Portugal says it does not need aid, but many analysts say Lisbon is in denial. The eurozone debt deal follows months of negotiations.
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