• Private lenders to contribute €37bn to second Greek bail-out • Deal paves way for European monetary Fund and economic integration • Debt interest rates cut for Greece, Ireland and Portugal • Equity and debt markets rise on back of historic deal • 'We now have a programme and a package of decisions which create a sustainable path for Greece’ - Greek prime minister George Papandreou Greece is set to lead the eurozone's first-ever default as European leaders agreed that the private holders of Greek debt will take a hit of €50bn over three years. Breaking weeks of deadlock, the...