How can I break out of multiple loops?

Given the following code (that doesn't work):

while True:
    # Snip: print out current state
    while True:
        ok = get_input("Is this ok? (y/n)")
        if ok.lower() == "y": break 2 # This doesn't work :(
        if ok.lower() == "n": break

    # Do more processing with menus and stuff

Is there a way to make this work? Or do I have do one check to break out of the input loop, then another, more limited, check in the outside loop to break out all together if the user is satisfied?

My first instinct would be to refactor the nested loop into a function and use return to break out.

Stack Overflow Q#189645, score: 768