Euro zone cut fiscal deficit in 2011, debt up


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A woman walks her dog in Lisbon October 22, 2012. Portugal, already on a euro zone financial lifeline after being cut off from market borrowing, more than halved its budget deficit last year to 4.4 percent of GDP from 9.8 percent as a result of reforms, but its debt jumped to 108.1 percent from 93.5 percent. REUTERS/Rafael Marchante