Portugal becomes third EU country to agree bailout

Portugal has reached agreement on a bailout from the EU and the International Monetary Fund.

Portugal's caretaker prime Minister Jose Socrates described the three-year loan, reportedly in the region of €78bn, as a "good agreement".

The EU, ECB and IMF officials have been working on a deal for three weeks.

Portugal is the third eurozone country to take a bail-out, after Greece and Ireland.