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Greek bailout vote and eurozone GDP growth figures - live updates Greek bailout vote and eurozone GDP growth figures - live updates
(34 minutes later)
7.24am BST07:24
Yanis Varoufakis: I can't back the bailout
More drama in the Athens parliament, as the all-night debate continues.
Former finance minister Yanis Varoufakis has just intervened, telling the chamber that he cannot vote for the bailout deal. But he still supports the government, so suggests that he should resign as an MP to allow Tsipras to appoint a successor.
Varoufakis says he cannot vote for the deal #Greece pic.twitter.com/5LcqRTpPft
Varoufakis has offered to resign as MP to help gov't remain above 120 seats, which would be minimum needed in confidence vote #Greece
Updated at 7.24am BST
7.13am BST07:13
German GDP misses forecasts
Germany’s latest growth figures are also weaker than expected.
The eurozone’s powerhouse economy grew by just 0.4% in April-June, slightly below the 0.5% which economists had forecast.
That, plus France’s disappointing figures, suggests growth in the eurozone will miss the 0.4% which the City expected.
#Germany misses after #France on Eurozone GDP day. German 2Q GDP Adj +0.4% undershooting forecast of +0.5% On Qtr. pic.twitter.com/pweXuGbvZ4
7.02am BST07:02
Back in Athens, Tsipras has warned MPs that they must give their approval to the bailout plan today - so Greece can get the money to repay the European Central Bank next week.
#Greek PM tells MPs tt bridging loan (2 cover looming ECB debt) would plunge the country back into crisis
6.57am BST06:57
French economy stagnated in Q2
France has got Eurozone GDP Day off to a bad start, by posting no growth in the last three months.
France’s economic output was unchanged in the April-June quarter, stats body INSEE just reported. That’s weaker than the 0.2% which analysts had expected.
Household spending slowed, while French firm continued to cut investment. On the positive side, exports grew by 1.7%.
Good morning from #Italy on Eurozone GDP day. Data will highlight that end of stagnation not in sight. France misses. pic.twitter.com/DmGQEfdq3a
6.50am BST06:506.50am BST06:50
Tsipras: I don't regret compromising.Tsipras: I don't regret compromising.
Alexis Tsipras is telling bleary-eyed Greek MPs that he doesn’t regret the deal he agreed to in Brussels last month.Alexis Tsipras is telling bleary-eyed Greek MPs that he doesn’t regret the deal he agreed to in Brussels last month.
Addressing parliament after the all-night session heads (finally) to a climax, Tsipras is insisting that he didn’t have a mandate for Grexit:Addressing parliament after the all-night session heads (finally) to a climax, Tsipras is insisting that he didn’t have a mandate for Grexit:
"We took a painful decision of responsibility," #Greek PM tells parliament after all-nite debate ahead of vote on latest bailout deal"We took a painful decision of responsibility," #Greek PM tells parliament after all-nite debate ahead of vote on latest bailout deal
Going the drachma route would have been tantamount to committing suicide, #Greek PM Alexis Tsipras tells parliament ahead of vote on dealGoing the drachma route would have been tantamount to committing suicide, #Greek PM Alexis Tsipras tells parliament ahead of vote on deal
Tsipras: Denouncing the debt is not an alternative solution #Greece pic.twitter.com/Jjm49PJYma
Updated at 7.06am BST
6.46am BST06:466.46am BST06:46
Introduction: Eurozone GDP and Greek bailout dealIntroduction: Eurozone GDP and Greek bailout deal
Good morning.Good morning.
Greece’s bailout deal is heading down to the wire today, with Eurozone finance ministers due to sign off the plan today.Greece’s bailout deal is heading down to the wire today, with Eurozone finance ministers due to sign off the plan today.
But first, Greece needs to give its approve.But first, Greece needs to give its approve.
And as I type, the country’s MPs are still arguing over whether to back the plan, as the debate which began on Thursday evening drags into Friday morning.And as I type, the country’s MPs are still arguing over whether to back the plan, as the debate which began on Thursday evening drags into Friday morning.
The fragile consensus between the major Greek parties appears to have unravelled overnight, with bitter exchanges between key players.The fragile consensus between the major Greek parties appears to have unravelled overnight, with bitter exchanges between key players.
Addressing #greek parliament this am #Syriza rebel #Lafazanis says he doesn't know whether he "feels pity or sorrow" for the governmentAddressing #greek parliament this am #Syriza rebel #Lafazanis says he doesn't know whether he "feels pity or sorrow" for the government
#Greek parliamentary now witnessing extraordinary tirade against PM by his once close friend & top #Syriza cadre Zoe Konstantopoulou#Greek parliamentary now witnessing extraordinary tirade against PM by his once close friend & top #Syriza cadre Zoe Konstantopoulou
Alexis Tsipras is on his feet now, telling MPs that the bailout agreement is a “necessary choice”, so the vote may finally come soon.Alexis Tsipras is on his feet now, telling MPs that the bailout agreement is a “necessary choice”, so the vote may finally come soon.
tsipras: the first cycle of a painful process closes today. #voulitsipras: the first cycle of a painful process closes today. #vouli
Eurozone finance ministers are due to meet this afternoon in Brussels, to give their approval for the plan. They can also ponder the latest warning that Greece needs significant debt relief, with borrowing likely to peak at 201% of national output (GDP) in 2016.Eurozone finance ministers are due to meet this afternoon in Brussels, to give their approval for the plan. They can also ponder the latest warning that Greece needs significant debt relief, with borrowing likely to peak at 201% of national output (GDP) in 2016.
Related: Greece creditors raise 'serious concerns' about spiralling debt levelsRelated: Greece creditors raise 'serious concerns' about spiralling debt levels
Also on the agenda today, we get growth figures from across the eurozone for the second quarter of 2015.Also on the agenda today, we get growth figures from across the eurozone for the second quarter of 2015.
France’s data is coming out now, followed by Germany at 7am BST, Italy at 9am and the overall eurozone at 10am, The Netherlands at 8.30am, Italy at 9am, and the overall eurozone at 10am BST.France’s data is coming out now, followed by Germany at 7am BST, Italy at 9am and the overall eurozone at 10am, The Netherlands at 8.30am, Italy at 9am, and the overall eurozone at 10am BST.
I’ll be tracking all the action through the day.I’ll be tracking all the action through the day.