Analysts believe Alexis Tsipras could lose power amid the backlash over the deep economic reforms, and asset sales, he agreed to in BrusselsFollow today’s Greek debt crisis live as Tsipras meets mutinous MPs 11.52pm BST PS: Another statement from the International Monetary Fund just arrived:“Following on the Managing Director’s participation in the discussions on Greece held in Brussels over the weekend, she briefed the IMF’s Executive Board on the outcome as reflected in the Eurozone Leaders’ statement published earlier today.The IMF stands ready to work with the Greek authorities and the European partners to help move this important effort forward.” 11.48pm BST And finally, here’s our news story on the political fight ahead:Alexis Tsipras was on course on Monday night to sway radical-leftist Syriza MPs to accept the most draconian rescue of a sovereign nation since the second world war after the Greek prime minister accepted a third bailout programme that one analyst said came after a weekend of “gunboat diplomacy”. Related: Alexis Tsipras aims to steer eurozone bailout plan through Greek parliament GO figure: Merkel needs punitive deal to get approval in Bundestag for a deal which makes no economic sense and won't be met #GreeceCrisis 11.24pm BST Some late breaking news. Greece has missed another payment to the International Monetary Fund today, worth around €450m.That’s on top of the €1.6bn payment missed on 30 June, putting the Greek government deeper into arrears. Not a great way to mark today’s bailout deal -- but a reminder of Greece’s financial plight.“The SDR 360 million principal repayment (about €456 million) due by Greece to the IMF today was not received. We have informed our Executive Board of this development. Greece’s arrears to the IMF total SDR 1.6 billion (about €2.0bn) to date. “The request by the Greek authorities for an extension of the repayment obligation due on June 30th is expected to be discussed by the Executive Board in the coming weeks.”surprise, Greece missed its IMF payment today 11.18pm BST The FT focuses on the political challenge facing Alexis Tsipras, with some Syriza considering mutiny.FINANCIAL TIMES: Tsipras faces rebellion in Athens #tomorrowspaperstoday pic.twitter.com/jbg8obynQ7 11.17pm BST The Telegraph reckons the UK’s bill for the third Greek bailout could be £1bn, if George Osborne can’t thwart it:TELEGRAPH PAGE ONE: Britain faces £1bn bill for Greek bailout, by @mattholehouse #tomorrowspaperstoday pic.twitter.com/0KgQAeWNeX 11.13pm BST Here come tomorrow’s newspapers....And The Times reports that Britain could pay £850m into the Greek bailout (although, as we wrote earlier, the UK is fighting this)Tomorrow’s front page: Cameron vows to close the pay gap for women #tomorrowspaperstoday pic.twitter.com/ZnvTTf5VZ2 10.57pm BST A couple more photos from tonight’s anti-austerity demonstration in Athens - apart from the flag-burning, it looks fairly subdued. 10.40pm BST We’ve asked eight experts to give their view of the bailout deal, including former Belgium PM Guy Verhofstadt, Irish economist Dan O’Brien, and Greek journalist Nick Malkoutzis. Related: Greece’s rescue package: utter humiliation or disaster averted? | The panel 10.19pm BST Another opinion poll from Germany, showing that the “mental waterboarding” and “crucifying” of Alexis Tsipras wasn’t received too badly back home.In case u were wondering. #Germany poll: 64% satisfied w Schäuble's negotiations w #Greece, 62% w Merkel. pic.twitter.com/iYVBjaZpj1 ~@SMuresan 10.07pm BST Writing in the Guardian tonight, Paul Mason puts his finger one one of the causes behind Europe’s debt crisis: It is the eurozone’s inability to contain the democratic wishes of 19 electorates. When the Finnish government threatened to collapse the talks, it was only expressing the wishes of the 38% of voters who backed the nationalist rightwingers of Finns Party. Likewise, when Schäuble sprang his temporary Grexit plan, he was expressing the demand of 52% of German voters, who want Greece to leave.As for the Greeks, having tramped the streets of Athens alongside them for the best part of two months, I am certain that the “Oxi” movement was essentially a demand to stay in the Euro on different terms. You cannot get 70-80% of people in the working-class suburbs of Athens turning out – in the face of a rightwing media bombardment – on far-left anti-Euro sentiment alone.My @guardian column about Greece, democracy etc http://t.co/fqLdUjeE1W 9.53pm BST Another German opinion poll, showing that Berlin’s hardline performance in Brussels has played well back home:87% of Germans: conditions for Greece adequate or too soft, only 13% say too tough. 2/3 happy w. Schaeuble negotiations - ARD survey today! 9.52pm BST Slovakia’s finance minister, Peter Kažimír, had second thoughts today about a tweet comparing Syriza’s election victory to the Arab Spring uprising (it’s been deleted)Slovakia's Fin Min admits terms imposed on #Greece are about crushing a democratic uprising. Honest. #ThisIsACoup pic.twitter.com/IdbcGIdnpR 9.20pm BST The New York stock market just closed at a two-week high, as US traders welcomed the overnight breakthrough in Brussels.Markets have responded very positively to the news, which comes following months of uncertainty and increasing fears that Greece could suffer a messy exit from the euro zone.” 8.58pm BST A small majority of Germans are happy with the terms of the deal hammered out with Greece, even though most don’t trust Athens to enforce it.That’s according to a poll for news magazine Spiegel Online, which also found that a third of Germans still expect Grexit eventually.52% of the Germans think the deal with Greece is ok althought 78% of them doesnt trust the greek government https://t.co/hxPfqNCEcqWhat #Germany thinks about the #Greece deal: 52% for new loans vs 44% against; 57% say reform measures ok (22% want more; 13% less). (1/2)But 78% think Greek government won’t implement reforms; 62% vs 32% for #Greece to remain in #Eurozone. http://t.co/8QoteZbpCf (2/2) 8.46pm BST Wednesday is going to be a dramatic day.One of Greece’s main unions have called a 24-hour strike, in protest against the economic reforms which the Athens parliament will vote through that day. 8.40pm BST News of the last-ditch Brussels breakthrough has been welcomed in America, where the government had been making increasingly anxious noises in recent weeks.White House spokesman Josh Earnest called the deal a “credible step” that would include difficult structural reforms by Greece, Reuters says. 8.38pm BST Deutsche Bank analysts reckon Greece’s capital controls won’t be lifted until autumn. They told clients tonight that the European Central Bank is unlikely to cut Greece much slack until the third bailout is agreed.We suspect the ECB will stall an ELA decision until Greece begins to legislate the new deal later this week. Greece would still face a tight ELA cap, however. We expect the ELA cap will remain carefully calibrated and controlled at least until the new ESM loan is fully in place. Access to banks could be fully normalised only in the fall. 8.34pm BST Many Greeks may feel better about the new bailout deal once their banks reopen and capital controls are lifted.That feels some way away tonight. But economy minister George Stathakis has pledged that savers’ deposits are safe (those that haven’t been removed and stuffed under the mattress already)“The recapitalisation is so secure that it fully safeguards deposits” 8.27pm BST A group of leftist protesters gathered outside the Athens parliament tonight, to urge MPs to reject the bailout plan.Judging by the photos we’ve seen, it was a fairly small demo: 8.13pm BST My colleague Phillip Inman reports on another potential stumbling block that has emerged following this morning’s deal and in particular the plans to come up with a bridging loan to avert the collapse of Greece’s banking system and help cover its debt repayments this summer. 7.37pm BST In the wake of this morning’s potential deal to keep Greece in the eurozone and allow it to tap a third bailout, the credit ratings agencies have been commenting on the country’s economic prospects and the outlook for its credit score.Standard & Poor’s has told Reuters news agency that it could upgrade Greece’s credit rating “pretty quickly” if a plan for a third bailout seems solid. Greek Deal May Help Sovereign Liquidity; Big Risks Remain #FitchWire https://t.co/rbOeEbFu9D 7.14pm BST As European leaders digest the tough new deal set out for Greece, our reporter Jennifer Rankin sums up the day after the longest of nights in Brussels and looks at what comes next:European leaders lined up to say Grexit has been averted, but this snappy soundbite glides over the fact the eurozone has simply agreed to open negotiations on an €86bn (£62bn) bailout. Although this is a step to shoring-up confidence in the euro, it is only a promise to have more talks with no guarantee of success.Talks on the bailout plan are forecast to last around four weeks. “We know time is critical for Greece, but there are no shortcuts,” said Klaus Regling, the official in charge of the the European Stability Mechanism, the eurozone’s permanent bailout fund that Greece hopes to tap. Related: Greek bailout: what happens next 7.06pm BST If you are just joining us, here is a brief summary of the latest events in the Greek debt crisis.After a fraught weekend with his eurozone counterparts in Brussels, Alexis Tsipras is now heading for a showdown with his own party and opposition MPs after accepting a third bailout programme that will bring further austerity to the debt-stricken country.Tsipras convened a meeting of government officials in Athens to thrash out a way to convince his radical-leftist Syriza party and its coalition partner to vote through the package by Wednesday. Related: Tsipras faces clash with Syriza radicals opposed to eurozone bailout for Greece 6.36pm BST Former Labour MP Denis MacShane says he is hearing from political contacts in Athens that Greek PM Alexis Tsipras has the votes he needs to get a deal through now he is home from those exhausting talks in Brussels.Greek pol friends in Athens say Tsipras has votes for deal. They are shocked at some interview Varoufakis has given N S'man @graemewearden.@yanisvaroufakis tells @NewStatesman—democracy was ignored, we were shut out, French silenced http://t.co/xz5NkaB8mn pic.twitter.com/6KF0THCDkBAn account of the past five months of negotiations. http://t.co/Rrh83elEwA 6.11pm BST Our economics editor Larry Elliott has been going through the details of this morning’s deal and concludes it will deepen the country’s recession, make its debt position less sustainable and that it “virtually guarantees that its problems come bubbling back to the surface before too long.”He continues:One line in the seven-page euro summit statement sums up the thinking behind this act of folly, the one that talks about “quasi-automatic spending cuts in case of deviations from ambitious primary surplus targets”.Translated into everyday English, what this means is that leaving to one side the interest payments on its debt, Greece will have to raise more in revenues than the government spends each and every year. If the performance of the economy is not strong enough to meet these targets, the “quasi-automatic” spending cuts will kick in. If Greece is in a hole, the rest of the euro zone will hand it a spade and tell it to keep digging. Related: With Europe behind it, Greece is being pushed into further peril 6.03pm BST That’s it from the eurogroup press conference in Brussels. Newly re-elected head of the group, Dutch finance minister Jeroen Dijsselbloem, came back to bridging finance at the close of the briefing. @J_Dijsselbloem on bridge financing: "it's not going to be easy." #Greece running out of time for 20 July ECB debt payment. 5.49pm BST While his colleagues are briefing the press on their Eurogroup meeting, Slovakia’s finance minister Peter Kažimír has turned to Twitter to get something off his chest:It 's unfortunate how much money, trust and achievements was wasted over past few months #Greece #eurozone 5.46pm BST We already know from the statement this morning out of the leaders’ marathon summit that Greece is being prevailed upon to request continued International Monetary Fund support from March 2016. A loss for Tsipras, who had reportedly resisted further IMF involvement in Greece’s rescue.From Brussels we now have more details from Klaus Regling, head of the European Stability Mechanism, on the IMF’s role in a new bailout. IMF expected to chip into #Greece's €86bn bailout, says Klaus Regling of ESM once its arrears are cleared. 5.40pm BST More from Moscovici from Jennifer Rankin who is at the Brussels press conference for us.The Greek people need a more transparent effective state that works for its citizens, says Moscovici.Moscovici: irreversibility and integrity of eurozone has been strengthened but more needs to be done.Reality of covering #eurosummit which goes through the night pic.twitter.com/UD7SrhohoV 5.35pm BST Pierre Moscovici, commissioner for economic affairs, is now speaking at the press conference following the Eurogroup meeting in Brussels.He wants everyone to take a moment to congratulate themselves: Integrity of eurozone reaffirmed, goal reached, congratulations in order, he says.Intégrité #zoneeuro réaffirmée : objectif atteint, il faut s'en féliciter @EU_Commission #Eurogroupe #Grèce 5.31pm BST Dijsselbloem also says he expects talsk on Greece’s third bailout to take four rather than two weeks. Talks on Greece's bailout likely to take four weeks rather than two weeks to negotiate, says Dijsselbloem.Bridge financing very complex, says @Dijsselbloem, technical experts looking into options. Haven't yet found golden key to solve issue. 5.27pm BST Dijsselbloem is now speaking to reporters at a press conference in Brussels.Jennifer Rankin is there.Doesn't sound like urgency on bridge financing for #greece at today's euro group, Dijsselbloem says discussed timetable for next few days. 5.20pm BST Sticking with the Eurogroup, its meeting this afternoon has now concluded and a press conference is about to start. You can follow it online, as the newly re-elected president points out:Press conference following today's #Eurogroup live via: http://t.co/UxnaxuRr11 5.18pm BST A bit more detail on that re-election of Dutch finance minister Jeroen Dijsselbloem as president of the Eurogroup of finance ministers from the single currency bloc.After seeing off his only challenger, Spain’s centre-right Economy Minister Luis de Guindos, Dijsselbloem will serve another two-and-a-half year term. 5.05pm BST Dutch finance minister Jeroen Dijsselbloem has been re-elected president of the Eurogroup of finance ministers, Reuters and others report.The deed is done: @J_Dijsselbloem beats @Luis_De_Guindos to take 2nd term as head of #eurogroup https://t.co/XJ1ObXDT17I thank my colleagues for their support and cooperation and look forward to a second term as President of the #Eurogroup 4.47pm BST An item for your diaries if you would like to hear what a panel of UK-based experts thinks about this tentative Greek deal. On Wednesday 15 July at 10.15am BST, the UK’s House of Lords committee dealing with EU financial affairs will be putting questions on reforms, the Greek referendum, the Greek banking system, implications for the UK and more to experts including professor Charles Goodhart from the LSE, professor Richard Portes from London Business School and Roger Bootle, economist and head of the thinktank Capital Economics. Related: Greek bailout: what happens next 4.27pm BST The International Monetary Fund has put out a short statement following this morning’s euro summit statement and the weekend crisis talks, attended by IMF managing director Christine Lagarde. Gerry Rice, IMF director of communications says: 4.14pm BST Over in Athens the Greek prime minister has got straight down to business holding an emergency meeting of top officials following the announcement of the deal. Our correspondent Helena Smith reports: 3.59pm BST Political developments in Athens; Alexis Tsipras has returned the Greek capital and started meeting ministers.#Greece PM Tsipras meeting with Mins and close associates now. To meet ANEL's Kammenos later. 3.58pm BST The Economist Intelligence Unit warns that Greece’s membership of the euro isn’t guaranteed:Team think Grexit delayed, but not avoided. Tough line taken means political risks of one side or other not delivering are high 3.57pm BST Gone but not forgotten. Greece’s former finance minister, Yanis Varoufakis, has dubbed the bailout deal “the politics of humiliation”.Speaking to Australian radio station ABC, he said Alexis Tsipras knows that this is an “impossible deal...a deal that is simply not viable.”‘The troika have made sure that they will make him eat every single word that he uttered in criticism of the troika over the last five years. Not just these six months we’ve been in government, but in the five years prior to that. ‘This has nothing to do with economics. It has nothing to do with putting Greece back on the rails towards recovery. This is a new Versailles Treaty that is haunting Europe again, and the prime minister knows it. He knows that he’s damned if he does and he’s damned if he doesn’t.’In the [1967] coup d’état the choice of weapon used in order to bring down democracy then was the tanks. Well, this time it was the banks.One that is not a federation, but on the capacity of a single fiscal overlord to veto national budgets and therefore to annul national sovereignty.Varoufakis to Tsipras: "I am going to simply steal into the night”’- another rip-roaring "first interview since" here http://t.co/u3oK0olcjV 3.26pm BST And here’s a reminder of Alexis Tsipras’s political vulnerability:Citi: Assuming radical parties reject deal, it would only take 12 opposing votes from Syriza/Anel to loose support. pic.twitter.com/i1fKxS55oB 3.18pm BST Eurozone crisis veterans looking for a day off should check this calendar: SocGen: the Greek timeline updated after the Euro Summit pic.twitter.com/K03Gtmg4R1 3.16pm BST Pierre Moscovici, perhaps the most optimistic voice around the Greek crisis this year, is striking a cautious note this afternoon:Agreement paves the way for a reformed #Greece to stay in the #eurozone: @EU_Commission objective reached, but more work ahead. @EEAthina 3.13pm BST Analysts at Deutsche Bank sum up the agreement: Deutsche on today's deal: +ve: roadmap for Greece to remove itself from crisis -ve: execution issues and further Greek anti-euro sentiment 3.11pm BST One of Alexis Tsipras’s few triumphs last night was ensuring that the fund that will sell off €50bn of Greek assets will be based in Athens, not Luxembourg.But analysts are now questioning whether this plan is really viable at all.The amount, €50bn, is in line with an IMF projection of value of potential Greek privatisations made by the IMF in 2011. Now I just might take a guess that the value of those assets have decreased somewhat since that date. How much by? Impossible for me to even speculate, but as a starting point how much is the Greek stock market down since then? 40%? Oh and so far they have raised approx. €3.2bn.The income that these assets currently generate flow through to the Greek government. Diverting them for other purposes only reduces Greek government income so it is kinda like robbing Peter to pay Paul.Everyone knows the €50bn privatisation target is a fiction. Who will tell the empress that she's wearing no clothes? #Greece 3.03pm BST Mohamed El-Erian, the chief economic adviser of German financial services group Allianz, wasn’t impressed with how events played out in Brussels either:The sad reality of #Greece & #Europe : Its not long now until historians draw a parallel with historical episodes of “gunboat diplomacy.” 2.54pm BST Debt campaigners are deeply disappointed (although probably not surprised) that Greece is receiving more bailout loans, rather than substantial debt relief now. Tim Jones, economist at the Jubilee Debt Campaign, says this will simply extend the five-year Greek debt crisis for at least another decade.“At the heart of it is a lie from Eurozone leaders that ‘nominal haircuts on the debt cannot be undertaken’. They can, they should and they must. Sub-Saharan Africa and Latin America suffered from 20 years of economic stagnation and increasing poverty in the 1980s and 1990s because of a refusal to cancel debt and the imposition of austerity overriding democracy. The same now awaits Greece and the Eurozone unless there is a sudden change of direction. 2.49pm BST Last night, Greece was threatened with the ‘offer’ of a temporary exit from the eurozone, if a deal couldn’t be reached.And although that “time-out” didn’t survive to the final statement, it highlights the damage caused to the European project this year:Wolfgang Munchau's damning assessment of Greece's 'brutal' creditors http://t.co/BRjl59ZEQZ pic.twitter.com/PT5Na8Xyua 2.36pm BST The call went out on Sunday afternoon. “Hi guys, this is an important message about Greece,” wrote an activist named Francesca in a text message to 40 people, including members of Spain’s Indignado movement and leftist coalition party Barcelona en Comú. She continued:“These guys meeting now in the Eurogroup, they all have twitter handles, they deserve to be told by the world to do a deal with Tsipras and stop trying to overthrow him,” “The scandalous Eurogroup proposals yesterday made last night the ideal moment to create a hashtag to express and, above all, coordinate, our outrage at the extortion the Greek government and its people were being subject to.”“We’ve learned how to mobilise online from our counterparts of the Arab Spring and from our own experiences of occupying the squares of Spain.” 2.18pm BST Yanis Balafas, a Syriza lawmaker close to Alexis Tsipras, has also warned that the government could split badly over the deal.He told Bloomberg:“There’s a vista of division within the party, part of Syriza officials and lawmakers do not accept the tactics followed by our prime minister.”Tsipras is facing a SYRIZA mutiny when he arrives home in Athens http://t.co/Il6wCSmDyr pic.twitter.com/NZIpPGVWZW 2.16pm BST The main threat of a mutiny comes from Syriza’s hard-line wing, the Left Platform.And there are already signs that they are unwilling to swallow the bailout deal.The new bailout agreement signed by Alexis Tsipras is a humiliation for Greece, says an editorial in Iskra website which reflects the views of Syriza’s hardliners.The article says that the agreement reestablishes and extends the guardianship of the Troika and seals “social enslavement”. 1.51pm BST Analysts at Eurasia Group suspect Greece could soon head towards a national unity government, if many government MPs refuse to back the bailout deal on Wednesday night.If Tsipras loses his majority and potentially even more support than he did on Saturday, it makes no sense for him to try and reshuffle the government. In this case, he will instead likely choose to offer his and the support of the remaining Syriza MP’s towards a special purpose national unity government, but one which he will not head. 1.43pm BST 1.35pm BST The Financial Times has some tantalising details of how last night’s marathon summit nearly collapsed around dawn today:They report:Alexis Tsipras of Greece and Angela Merkel, the German chancellor, decided after 14 hours of anguished talks that they had reached a dead end. With no room for compromise, neither saw any reason to carry on. Grexit was the only realistic optionAs the two leaders made for the door it was Donald Tusk, the president of the European Council, who moved to prevent the fatigue and frustration from triggering a historic rupture for the eurozone.“They crucified Tsipras in there,” a senior eurozone official who had attended the summit remarked. “Crucified.”FT: “They crucified Tsipras in there,” a senior eurozone official who had attended the summit remarked. “Crucified.” European solidarity.#greece merkel/holland session with tsipras said to resemble 'extensive mental waterboarding' - top official 1.25pm BST 1.22pm BST French prime minister Manuel Valls said the French parliament would vote on the Greek deal on Wednesday.Valls added he was “proud” of President François Hollande’s role in the agreement.“I am proud to be at the side of François Hollande and to succeed today what just a week ago seemed impossible. It’s a victory for Europe.”“There’s a willingness to embody a strength: the eurozone, a monetary zone that give stability and growth…France’s role has also been to seek to bring the parties together, to respect the Greek people while also respecting the other eurozone nations. France’s role is to find the right way for the eurozone and for Europe.”“We are witnessing the horror of the European Union, we are in the process of saving the euro at any price…nobody is thinking of the Greeks…or the French taxpayers who will be broke after this deal.”Personne n'a pensé aux Grecs, ni aux contribuables français, qui sortiront rincés de cet accord. Mais seulement à l'euro, par pure idéologie 1.17pm BST Here’s the full seven-page statement released by the European Council this morning, announcing the agreement with Greece. Related: Greece debt agreement: the eurozone summit statement – in full 1.14pm BST The European Central Bank has decided to maintain the emergency liquidity assistance that has kept Greek banks afloat this year, sources say.That means that it remains capped at €89bn, so capital controls remain in place and the Greek banks stay shut. 1.10pm BST Despite the extra austerity and reforms being heaped on Greece, Athens cafe owner Dimitris is mainly relieved that Grexit has been avoided.Dimitris told the Guardian:“I’m not disappointed because the prime minister [Alexis Tsipras] couldn’t have done anything else. Leaving the euro would have been much worse.” Related: Greece agreement is 'bad but still better than leaving the euro' 1.04pm BST Alexis Tsipras is more likely than not to quit as Greek PM this year, reckons UK bookmakers Ladbrokes. They are offering evens that Tsipras celebrates New Year’s Eve in Maximos Mansion but only 8/11 that he has stepped down.Greek PM Tsipras seen out of office by year-end, says @Ladbrokes. Offers odds of 8/11, meaning a 58% probability he won't last the year. 12.55pm BST This is a “toxic deal” that will have political consequences in Greece, warned Wolf Piccoli of Teneo Intelligence:In the short-term, Tsipras can stagger on, relying on the opposition to win the vote on Wednesday (15 July) and any other immediate vote (22 July) required by the lenders. The Greek PM might even reshuffle his cabinet in an effort to diminish the political weight of the most staunch opponents to the deal. But his authority and grip on the party is set to decline, making it harder for him to contain an almost inevitable rebellion within SYRIZA.In fact, the government’s parliamentary majority is likely to end as soon as Wednesday after the vote on the measures requested by the lenders. At that point, Tsipras will be forced to either reconfigure the current governing arrangement by striking a deal with the mainstream opposition parties or call an early election. 12.45pm BST A spokeswoman for British prime minister David Cameron has warned that there is more work to do to end the Greek crisis: “Clearly the challenge now will be on delivering on that [deal] and the implementation which lies ahead ... and I don’t think we underestimate the size of that challenge.We are glad an agreement has been reached but there is still more to do.” 12.42pm BST Newsflash from Berlin: The German parliament is likely to vote on the Greek bailout plan on Friday (assuming it gets through the Athens parliament on Wednesday)#BREAKING German parliament vote on Greek bailout expected Friday: speaker 12.39pm BST Withdrawing his daily allowance of 50 euros from a cashpoint next to the Bank of Greece in Thessaloniki, Spiros Mousionis smiled with relief at the deal. “I couldn’t have imagined a Greece outside the European Union and outside the Euro.”“I expect it, and I will deal with it. Maybe it’s better for us to have some discipline and order in our society.”“But we have to pay it to support the national economy.”“But at least with this environment, we know more or less what it means. If we’d gone back to the drachma, it would be very different to going back to the drachma we had in 2000. Now the country is not producing anything, and is mostly reliant on service industries like tourism. Leaving the euro would have been very hard.” 12.35pm BST If you’re looking to get up to speed on the Greek story, check out Jennifer Rankin’s latest news story from Brussels: Related: Greece and eurozone reach agreement in bailout talks 12.33pm BST Over in Greece, the backlash has begun... with a lot of anger being directed at Germany over the extra austerity that will now be heaped on the country.“People have suffered the past five years and there is more to come now. This is what makes things difficult for us. We wanted to stay in Europe, it goes without saying that we did. But what about the terms?” 12.20pm BST Good morning, and welcome to our rolling coverage after Greece’s government and its eurozone creditors reached an agreement to pave the way to a third Greek bailout.The most intrusive economic supervision programme ever mounted in the EU. Related: Greek debt crisis: deal reached after marathon all-night summit - live Continue reading...
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