Sarkozy: Eurozone deal will 'relieve the whole world'

EU leaders have agreed a "three-pronged" deal, including writing off 50% of Greek debts, to help tackle the eurozone crisis.

French President Nicolas Sarkozy said he had been keen to avoid "the drama that would have come from a default" by Greece.

He said that while "we have been negotiating for long hours... I believe the result will relieve the whole world".