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Europe hails ‘historic’ deal to save single currency
Sam Fleming, David Charter, Sam Coates
49 minutes ago

Eurozone leaders pulled the single currency back from the brink of disaster tonight as they agreed a second plan to bail out Greece and ambitious proposals to overhaul the embattled euro area. Markets rallied as the 17 leaders hammered out an agreement that economists said marked a step forward in euro area coordination and gave comfort to European banks but still fell far short of full economic integration. Following months of dithering, a second massive rescue deal was agreed for Greece of €109 billion, including €37 billion from the private sector and a significant lowering of interest rates. Christine Lagarde, the new IMF managing director, singled out the decision at the emergency summit to support a country in difficulty until it could return to the markets to raise finance…