This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/world-europe-33517252
The article has changed 11 times. There is an RSS feed of changes available.
| Version 6 | Version 7 |
|---|---|
| Greece debt crisis: Tsipras faces eurozone deal battle | Greece debt crisis: Tsipras faces eurozone deal battle |
| (about 2 hours later) | |
| Greek Prime Minister Alexis Tsipras is battling to convince MPs within his government to back a third bailout offered by eurozone leaders. | Greek Prime Minister Alexis Tsipras is battling to convince MPs within his government to back a third bailout offered by eurozone leaders. |
| Four pieces of legislation must be passed by the end of Wednesday, including pension and VAT reforms. | Four pieces of legislation must be passed by the end of Wednesday, including pension and VAT reforms. |
| But Defence Minister Panos Kammenos, a junior coalition partner, has said he will provide only limited backing. | But Defence Minister Panos Kammenos, a junior coalition partner, has said he will provide only limited backing. |
| If the deal fails, Greece's banks face collapse and the country could then be forced to leave the euro. | If the deal fails, Greece's banks face collapse and the country could then be forced to leave the euro. |
| The International Monetary Fund (IMF) announced early on Tuesday that Greece had gone further into arrears by missing a debt repayment for the second consecutive month. | The International Monetary Fund (IMF) announced early on Tuesday that Greece had gone further into arrears by missing a debt repayment for the second consecutive month. |
| It had been due to pay €456m (£323m; $500m) on Monday and now owed €2bn, the Washington-based fund said. | It had been due to pay €456m (£323m; $500m) on Monday and now owed €2bn, the Washington-based fund said. |
| Latest updates | Latest updates |
| Bailout deal at a glance | Bailout deal at a glance |
| Europe's media stress drama of Greek deal | Europe's media stress drama of Greek deal |
| Eurozone leaders agreed a conditional deal on Monday to provide up to €86bn (£61bn) of financing for Greece over three years. | Eurozone leaders agreed a conditional deal on Monday to provide up to €86bn (£61bn) of financing for Greece over three years. |
| It included an offer to reschedule Greek debt repayments "if necessary", but there was no provision for the reduction in Greek debt - or so-called "haircut" - that the Greek government had sought. | It included an offer to reschedule Greek debt repayments "if necessary", but there was no provision for the reduction in Greek debt - or so-called "haircut" - that the Greek government had sought. |
| Parliaments in several eurozone states also have to approve any new bailout. | Parliaments in several eurozone states also have to approve any new bailout. |
| But Greece is still faced with a short-term cash crisis. Banks have been shut since 29 June. | But Greece is still faced with a short-term cash crisis. Banks have been shut since 29 June. |
| Reuters news agency says it has seen a confidential IMF report saying that the Greek economy is now in such deep trouble that it requires far greater debt relief far than that being mulled. | |
| The options now include a 30-year grace period on repayments or "deep upfront haircuts", the report said. | |
| The news agency later quoted an EU official as saying eurozone decision-makers knew of the report before they reached their agreement on a third bailout proposal for Greece on Monday morning. | |
| Cracks open up - by Mark Lowen, BBC News, Athens | Cracks open up - by Mark Lowen, BBC News, Athens |
| With the deal done, Greece is now racing to meet its first deadline: to pass four pieces of legislation by the end of Wednesday. | With the deal done, Greece is now racing to meet its first deadline: to pass four pieces of legislation by the end of Wednesday. |
| But the cracks are emerging in Alexis Tsipras' coalition. | But the cracks are emerging in Alexis Tsipras' coalition. |
| Away from parliament, Mr Tsipras will also struggle to sell this deal to his own voters, with strike action already called. But only if he pushes on will the Greek banks get an urgent injection of cash and will the vital bailout funds start flowing once again. | Away from parliament, Mr Tsipras will also struggle to sell this deal to his own voters, with strike action already called. But only if he pushes on will the Greek banks get an urgent injection of cash and will the vital bailout funds start flowing once again. |
| Selling off the silver | Selling off the silver |
| Profile: German Finance Minister Wolfgang Schaeuble | Profile: German Finance Minister Wolfgang Schaeuble |
| Greek anger at eurozone debt deal | Greek anger at eurozone debt deal |
| Rifts between Europe's superpowers | Rifts between Europe's superpowers |
| Cabinet reshuffle expected | Cabinet reshuffle expected |
| Mr Tsipras will have a difficult task selling the terms of the third bailout to many of his own supporters. | Mr Tsipras will have a difficult task selling the terms of the third bailout to many of his own supporters. |
| Many Greeks have expressed their widespread anger online using the hashtag #ThisIsACoup. Civil servants have called for a 24-hour strike on Wednesday. | Many Greeks have expressed their widespread anger online using the hashtag #ThisIsACoup. Civil servants have called for a 24-hour strike on Wednesday. |
| Mr Kammenos, whose Independent Greeks party underpins Mr Tsipras' coalition government, said he and his colleagues would back plans agreed by Greek parties before the weekend but "no other measures that are imposed". | |
| Some 30 Syriza MPs, led by left-wing Energy Minister Panagiotis Lafazanis, could defy the prime minister, but the urgent reforms would go through with the help of opposition party support. | Some 30 Syriza MPs, led by left-wing Energy Minister Panagiotis Lafazanis, could defy the prime minister, but the urgent reforms would go through with the help of opposition party support. |
| Mr Tsipras was meeting Syriza MPs on Tuesday morning amid predictions of a reshuffle that could lead to leading anti-bailout figures such as parliament speaker Zoe Constantinopoulou being replaced. | Mr Tsipras was meeting Syriza MPs on Tuesday morning amid predictions of a reshuffle that could lead to leading anti-bailout figures such as parliament speaker Zoe Constantinopoulou being replaced. |
| He came to power after his left-wing Syriza party won elections in January on a promise to end austerity. Greece has already received two bailouts totalling €240bn since 2010. | He came to power after his left-wing Syriza party won elections in January on a promise to end austerity. Greece has already received two bailouts totalling €240bn since 2010. |
| Greek laws to be passed by Wednesday | Greek laws to be passed by Wednesday |
| Germans split - by Jenny Hill, BBC News, Berlin | Germans split - by Jenny Hill, BBC News, Berlin |
| German Chancellor Angela Merkel and Finance Minister Wolfgang Schaeuble returned from Brussels to face a tough crowd at home. | German Chancellor Angela Merkel and Finance Minister Wolfgang Schaeuble returned from Brussels to face a tough crowd at home. |
| Some disapproved of their negotiating tactics. The German threat of a temporary "Grexit" was, said one Social Democrat, a "breach of trust". | Some disapproved of their negotiating tactics. The German threat of a temporary "Grexit" was, said one Social Democrat, a "breach of trust". |
| Others believe they didn't go far enough. One senior conservative told me nothing would persuade him to approve a third bailout deal for Greece. It was tantamount to throwing away "our children and grandchildren's money", he said. | Others believe they didn't go far enough. One senior conservative told me nothing would persuade him to approve a third bailout deal for Greece. It was tantamount to throwing away "our children and grandchildren's money", he said. |
| An opinion poll suggests 52% of Germans think it's right to give Greece more financial help, but 78% don't trust the Greek government to implement promised reforms. | An opinion poll suggests 52% of Germans think it's right to give Greece more financial help, but 78% don't trust the Greek government to implement promised reforms. |
| 'No Grexit' | 'No Grexit' |
| As the government in Athens struggles to stay afloat, Germany's hardline Finance Minister Wolfgang Schaeuble has reportedly suggested Greece should start issuing IOUs to pay domestic bills such as public sector salaries. | As the government in Athens struggles to stay afloat, Germany's hardline Finance Minister Wolfgang Schaeuble has reportedly suggested Greece should start issuing IOUs to pay domestic bills such as public sector salaries. |
| Mr Schaeuble had earlier backed Greece's exit from the euro, and his latest intervention would be seen by many as a first step towards a parallel currency, the Handelsblatt daily reports. | Mr Schaeuble had earlier backed Greece's exit from the euro, and his latest intervention would be seen by many as a first step towards a parallel currency, the Handelsblatt daily reports. |
| The government in Athens needs an estimated €7bn to pay its debts in July and a further €5bn in August, but is also waiting for the European Central Bank to provide emergency cash assistance so the banks can reopen. | The government in Athens needs an estimated €7bn to pay its debts in July and a further €5bn in August, but is also waiting for the European Central Bank to provide emergency cash assistance so the banks can reopen. |
| EU officials quoted by Reuters said the European Commission would recommend using funds still available in a bailout fund set up in 2010 - the European Financial Stability Mechanism (EFSM). | |
| However, that would require the consent of all 28 European Union governments as it is backed by the EU budget - but the UK and Czech Republic object strongly. | |
| Greek deadlines | Greek deadlines |
| Are you in Greece? What is your reaction to the latest developments? Email haveyoursay@bbc.co.uk with your story. | Are you in Greece? What is your reaction to the latest developments? Email haveyoursay@bbc.co.uk with your story. |
| Please include a contact number if you are willing to speak to a BBC journalist. You can also contact us in the following ways: | Please include a contact number if you are willing to speak to a BBC journalist. You can also contact us in the following ways: |