Alistair Darling: Package 'a good deal for Europe'

UK Chancellor Alistair Darling has described an agreement by EU finance ministers to prop up the Greek economy as ''a good deal'' for Europe and for Britain.

The emergency measures are worth 500bn euros (£430bn) and aim to stop the Greek debt crisis from spreading.

The International Monetary Fund (IMF) will also contribute up to 250bn euros.

Mr Darling outlined the terms of the agreement.