Greece rated as 'restricted default'

A credit rating agency Fitch has declared Greece to be in a "restricted default" after yesterday's approval of a €109bn bailout.

The deal is aimed at saving the country from economic ruin, and shoring up the single currency.

But it does mean that Greece will be the first European country to default on some of its debts since the second world war.

British Prime Minister David Cameron has said he supports the deal.