Germany's Merkel: Eurozone deal a 'huge achievement'

It was billed as a last ditch effort to save the euro. Now 26 of the 27 EU nations are moving towards a new treaty that is expected to set strict controls on their spending.

German Chancellor Angela Merkel called the agreement a huge achievement following a eurozone summit on solving the region's fiscal crisis in Brussels.

Only Britain refused to be a part of the deal, creating a deep rift within the EU.