Captured American fugitive George Wright will claim a new identity to prevent the US from extraditing him, his lawyer say.

Hard-up Portugal has negotiated an international bailout worth €78-billion ($115-billion) over a three-year period, officials say.

Portugal’s financial tailspin gathered speed despite political efforts to contain the acute debt crisis that is also unnerving the 17-nation eurozone.

Moody’s downgraded Portugal’s credit rating on Tuesday, saying the debt-stressed country is struggling to generate growth and faces a tough battle.