#ThisIsACoup: Greeks react with fury at new €86bn EU bailout deal, accusing Germany of using WW2-style tactics to condemn their country to years of harsh austerity

  • Eurozone leaders spent all night thrashing out the Greek bailout agreement
  • European Commission President Jean-Claude Juncker said there is no longer any risk of Greece crashing out the euro, adding 'Grexit has gone' 
  • German leader Angela Merkel said trust with Greece 'needs to be rebuilt'
  • But she did add that she backed today's agreement with 'full conviction'
  • Greeks have taken to Twitter to condemn the bailout, using #thisisacoup 

Greeks have reacted to the news of today's bailout deal with fury, saying the tough reforms agreed to by Prime Minister Alexis Tsipras condemned the country to 'misery, humiliation and slavery'.

Following marathon overnight talks between 19 eurozone leaders, Greece caved in and accepted a range of reforms to secure a deal worth up to €86 billion - the country's third bailout in five years.

While striking a deal was considered vital to securing Greece's future within the euro and preventing the country's economy collapsing, Prime Minister Alexis Tsipras agreed to rush key measures on tax hikes, pension reforms, and a debt repayment fund through parliament.

The hard left Athens leader - who was elected on an anti-austerity platform - faced an immediate backlash over the deal, with many Greeks furious at Tsipras' reluctantly accepting even tougher reforms than those categorically rejected by citizens at last week's bailout referendum.

Some have already taken to social media using #thisisacoup to decry the terms of the deal, with many attacking the creditors terms as unfair. Users even accused Germany of 'destroying Europe once again', adding they 'could not do it with tanks so now they try it with banks'.

Hostility: Greeks have accused Germany of using WW2-style tactics to condemn their country to austerity. Pictured is a poster outside an Athens bank depicts German Finance Minister Wolfgang Schaeuble as a Nazi

Hostility: Greeks have accused Germany of using WW2-style tactics to condemn their country to austerity. Pictured is a poster outside an Athens bank depicts German Finance Minister Wolfgang Schaeuble as a Nazi

Scuffles: Elderly Greeks were seen pushing and shoving outside banks in the capital Athens this morning as the fought for priority tickets to be allowed to enter banks and withdraw their pensions

Scuffles: Elderly Greeks were seen pushing and shoving outside banks in the capital Athens this morning as the fought for priority tickets to be allowed to enter banks and withdraw their pensions

Comparison with the Second World War: Social media users even accused Germany of 'destroying Europe once again', adding they 'could not do it with tanks so now they try it with banks'

Comparison with the Second World War: Social media users even accused Germany of 'destroying Europe once again', adding they 'could not do it with tanks so now they try it with banks'

Off to work: Greek Prime Minister Alexis Tsipras has agreed to rush key measures on tax hikes, pension reforms, and a debt repayment fund through parliament

Off to work: Greek Prime Minister Alexis Tsipras has agreed to rush key measures on tax hikes, pension reforms, and a debt repayment fund through parliament

Haralambos Rouliskos, a 60-year-old economist who was out walking in Athens, described the deal as 'misery, humiliation and slavery'.

Katerina Katsaba, a 52-year-old working for a pharmaceutical company, said: 'I am not in favour of this deal. I know they [the eurozone creditors] are trying to blackmail us.'

But, Katsaba added: 'I trust our prime minister - the decisions he will take will be for the best interests of all of us.'

The outline deal thrashed out between the 19 eurozone nations in strained overnight talks calls for Greece to push through a range of reforms to secure a bailout worth up to €86 billion euros.

Without it, the country's economy will collapse.

Many ordinary Greeks were sceptical that the deal would bring about any improvement to their lives.

'It would be better not to have a deal than the way it was done because it will certainly be worse for the years to follow,' said Lefteris Paboulidis, who owns a dating service business.

'I would have preferred something else to happen, such as Grexit, where we would have starved in the beginning but dealt with it ourselves,' the 35-year-old said.

Bloody nose: Many Greeks took to social media to say the deal was a humiliation for the proud Greek nation

Bloody nose: Many Greeks took to social media to say the deal was a humiliation for the proud Greek nation

Enraged: Many ordinary Greeks are sceptical that the deal will bring about any improvement to their lives

Enraged: Many ordinary Greeks are sceptical that the deal will bring about any improvement to their lives

Dejected: Greeks greeted news of a deal with creditors with a measure of relief mixed with much anger, particularly at Germany, after it became clear Greece will have to swallow yet more austerity

Dejected: Greeks greeted news of a deal with creditors with a measure of relief mixed with much anger, particularly at Germany, after it became clear Greece will have to swallow yet more austerity

Upset: Many Greeks are furious at Tsipras' reluctantly accepting even tougher reforms than those categorically rejected by citizens at last week's bailout referendum

Upset: Many Greeks are furious at Tsipras' reluctantly accepting even tougher reforms than those categorically rejected by citizens at last week's bailout referendum

Backing down: Greek Prime Minister Alexis Tsipras agreed to rush key measures on tax hikes, pension reforms, and a debt repayment fund through parliament

Backing down: Greek Prime Minister Alexis Tsipras agreed to rush key measures on tax hikes, pension reforms, and a debt repayment fund through parliament

Ilias, a 26-year-old civil servant, agreed. 'The important thing is for the country to be better off - not so much if we stay in Europe or not, that is the last thing to think of,' he said.

'If we stay in Europe and the country goes from bad to worse, I can't see anything positive about that.'

Among the measures demanded that would directly affect citizens are lifting a ban on Sunday trading for shops, opening up ownership of pharmacies and opening up closed professions such as ferry transport.

'I think the terms agreed for the bailout are going to make life very hard for all of us. But I agree with the idea of Sunday openings, it's a measure that will allow those who work all week to have more time to buy our products, which can only help the economy,' said Melina Petropoulou, 41, the manager of a women's clothes shop.

Gianna Georgakopoulou, a 43-year-old office manager in a jewellery store, broadly welcomed the bailout deal, but said: 'We may have no choice but to open every Sunday, but that's not going to mean we'll be happy about it. 

'Everyone thinks we Greeks are lazy but we work hard. With Sunday gone, when are we supposed to rest?'

Q&A: WHAT HAPPENS NOW THAT GREECE HAS AGREED TO THE BAILOUT? 

Why did the negotiation take so long, and who won?

Greek Prime Minister Alexis Tsipras has repeatedly pushed the eurozone to the brink of a complete rupture in a bid to secure the best possible deal for his country. Having been elected on an anti-austerity platform, Mr Tsipras went as far as holding a referendum to reject one supposedly 'final' offer from the currency group and other creditors relating to the final tranche of a previous bailout. But his tactics may have backfired, as with the Greek financial system perhaps just hours from collapse, the premier has been forced to accept a package that many regard as even harsher in return for a fresh loan.

So is Grexit over?

Not by a long chalk. The Greek parliament could yet refuse to pass tax rises and tough reforms to pensions, labour markets and nationalised industries, by the deadline of Wednesday. The mooted loan of £60 billion from the eurozone's emergency fund would then disappear - and the country could very quickly go bust and exit the currency. Even if the deal does hold together in the shot term, there is a danger that politicians are merely 'kicking the can down the road' unless there is a fundamental restructuring of debt. Greece's liabilities are equivalent to around 180% of its GDP - and few economists believe that is sustainable.

What has it done for the euro's chances of survival?

The currency's reputation has undoubtedly suffered due to the crisis, with the weaknesses in its structure and rules cruelly exposed. But Grexit could have posed an existential threat to the project, and it was crucial for the other member states - most notably Germany - to show the political will hold things together.

Does Britain have a dog in this fight?

The UK is outside the eurozone, and is not liable for any losses by the ECB. British banks, and financial institutions also have very limited direct exposure to Greek debt. Interest rates on government borrowing tend to fall and the value of sterling increase as investors seek 'safe haven' from turmoil in the eurozone. But failure would have risked crashing stock markets, financial contagion and an economic slowdown in euro states - all of which would have been very damaging to the UK. David Cameron has welcomed the agreement as 'a chance for stability'.

Tense talks: Eurozone leaders stayed up all night to strike a deal with Greece over the its third bailout

Tense talks: Eurozone leaders stayed up all night to strike a deal with Greece over the its third bailout

Where the deal went down: Eurozone leaders were thrashing out a Greek bailout deal throughout the night

Where the deal went down: Eurozone leaders were thrashing out a Greek bailout deal throughout the night

Anger: Greeks have reacted to the news of today's bailout deal with fury, saying the tough reforms agreed to by Prime Minister Alexis Tsipras condemned the country to 'misery, humiliation and slavery'

Anger: Greeks have reacted to the news of today's bailout deal with fury, saying the tough reforms agreed to by Prime Minister Alexis Tsipras condemned the country to 'misery, humiliation and slavery'

Queues: Massive queues were seen outside banks in Athens this morning as people waited to use ATMs

Queues: Massive queues were seen outside banks in Athens this morning as people waited to use ATMs

 Withdrawals: An elderly woman is seen collapsed and begging for money while a Greeks use Alpha Bank branch ATMs in central Athens this morning

 Withdrawals: An elderly woman is seen collapsed and begging for money while a Greeks use Alpha Bank branch ATMs in central Athens this morning

Others inside the country, and in other EU member states, took to Twitter to express anger at the deal and perceived bullying of Greece by Germany.

A hashtag, #ThisIsACoup, was trending widely in Greece, France, Germany and Britain as they claimed that Greece was effectively being stripped of fiscal sovereignty.

'Germany is destroying Europe once again,' tweeted @KostasKainakis, whose profile says he is a marketing lecturer in Athens.

'The Germans could not do it with tanks so now they try it with banks Trying to STEAL Greek assets BrITS MUST vote to get out,' opined a tweet from Britain by @AllanSkerratt, who said he was a non-partisan retired soldier and ex-teacher.

Prominent commentators such as Paul Krugman, the Nobel-winning economist who writes for the New York Times, helped propel the term into the mainstream.

Krugman wrote: 'The trending hashtag #ThisIsACoup is exactly right. This goes beyond harsh into pure vindictiveness, complete destruction of national sovereignty, and no hope of relief.' 

WHAT ARE THE TERMS OF THE NEW GREEK BAILOUT?

Under the terms of the bailout, Greece must adopt drastic economic reforms by Wednesday. 

To the fury of many Greeks, the terms of the agreement are actually far harsher than those that were categorically rejected by the populace during last week's historic referendum.

The reforms include: streamlining the pension system, boosting tax revenue - especially from VAT, liberalising the labour market, privatising the electricity network, extending shop opening hours. 

Greece has also agreed to set up a trust into which it will place €50 billion worth of assets. 

While it will not lose control of the assets immediately, in the long term they will be a way of Greece to eventually pay off the bailout loan, with €25 billion will be used to fund recapitalisation of Greek banks and the other €25 billion set aside to pay off Greece's massive debts.

In return for the drastic reforms, the European Stability Mechanism - which operates as the eurozone's bailout fund - will grant the country a loan of between €82 billion and €86 billion.

From this sum about €10 billion will be ploughed into Greek banks to recapitalise them and hopefully restart the economy. Experts have predicted a total of €25 billion may be needed to achieve this, however. 

The eurozone is also set to extend the time frame over which Greece pays back its debt. While this will no doubt be welcomed, eurozone leaders refused to write off any of the total figure as Greece is understood to have requested.

Worse off: A sleep-deprived Prime Minister Alexis Tsipras (right) will fly back to Athens to sell an agreement that ended up being tougher than proposals Greeks overwhelmingly rejected in a referendum on July 5

Worse off: A sleep-deprived Prime Minister Alexis Tsipras (right) will fly back to Athens to sell an agreement that ended up being tougher than proposals Greeks overwhelmingly rejected in a referendum on July 5

Despair: A elderly man in a wheelchair sits with his head in his hands as he waits to enter a branch of the National Bank of Greece in Athens today in the hope of withdrawing up to €120 from his pension

Despair: A elderly man in a wheelchair sits with his head in his hands as he waits to enter a branch of the National Bank of Greece in Athens today in the hope of withdrawing up to €120 from his pension

Cash economy: A man withdraws money at a Piraeus Bank branch ATM in central Athens earlier this morning

Cash economy: A man withdraws money at a Piraeus Bank branch ATM in central Athens earlier this morning

Hopeless: A vendor sits on the steps in front of his shop in central Athens earlier this morning

Hopeless: A vendor sits on the steps in front of his shop in central Athens earlier this morning

Taking a rest: An elderly man sits outside a coffee shop in central Athens this morning

Taking a rest: An elderly man sits outside a coffee shop in central Athens this morning

European Council President Donald Tusk this morning tweeted: 'Euro summit has unanimously reached agreement. All ready to go for ESM programme for Greece with serious reforms and financial support.'

'There are strict conditions to be met. Nevertheless, the decision gives Greece the chance to get back on track with the support of European partners. It also avoids the social, economic and political consequences that a negative outcome would have brought,' he added. 

It is these 'strict conditions' imposed by international lenders led by Germany that could bring down Prime Minister Alexis Tsipras' leftist government and cause an outcry in Greece.

European Commission President Jean-Claude Juncker said there was no longer any risk of Greece leaving the euro after Athens agreed to the bailout terms, adding 'Grexit has gone'.

Earlier a Greek official said the main sticking points had been the future involvement of the International Monetary Fund in Greece's bailout programme and a proposal that Greece set aside €50 billion (£35.9 billion) worth of state-owned assets in a fund for eventual privatisation. 

EU officials said Tsipras finally accepted a compromise on German-led demands for the sequestration of Greek state assets to be sold off to pay down debt. 

PROFILE: WOLFGANG SCHAEUBLE - THE GERMAN FINANCE MINISTER WHO IS LOATHED IN ATHENS BUT LOVED IN BERLIN

Wolfgang Schaeuble arrives for the start of the Eurogroup finance ministers meeting yesterday

Wolfgang Schaeuble arrives for the start of the Eurogroup finance ministers meeting yesterday

German Finance Minister Wolfgang Schaeuble, whose tough stance in bailout talks with Greece has turned him into a hate-figure there, has surged to a new high in popularity at home, with 70 per cent of Germans saying they approve of the job he is doing.

A survey for public broadcaster ARD showed the 72-year-old Schaeuble is more popular than his boss, Chancellor Angela Merkel, who had a rating of 67 per cent. 

Foreign Minister Frank-Walter Steinmeier topped the popularity ratings with 73 per cent.

ARD said it was the highest rating for Schaeuble.

Schaeuble has been praised in the conservative German media in recent weeks for refusing to bow to the demands of Greek Prime Minister Alexis Tsipras in negotiations over a bailout extension.

Top-selling daily Bild, which has campaigned for the euro zone to cut the Greeks loose, included a picture of Schaeuble in a superhero costume last month, declaring him 'Euroman' and praising him for defending the currency in the face of the 'Greek rescue circus'.

In contrast, Schaeuble is widely disliked in Greece, where some newspapers have run cartoons of him dressed as a Nazi. 

A survey last month showed that only 14 per cent of Greeks view him positively, compared to 39 per cent for Merkel.

Still split: Greek Prime Minister Alexis Tsipras (left) stresses Greece won concessions on restructuring Greece's debt and assured medium-term financing. Meanwhile German Chancellor Angela Merkel said trust with Greece 'needs to be rebuilt,' but added that she backed the deal with 'full conviction'

Happy: Greek Prime Minister Alexis Tsipras says his country fought 'a difficult battle' for the past six months to win a financial aid agreement that will allow his country 'to stand on its feet'

Happy: Greek Prime Minister Alexis Tsipras says his country fought 'a difficult battle' for the past six months to win a financial aid agreement that will allow his country 'to stand on its feet'

European Council President Donald Tusk (left) this morning tweeted: 'Euro summit has unanimously reached agreement.' French President Francois Hollande (right) held at a press conference at the end of the talks

The Greek leader also dropped resistance to a full role for the International Monetary Fund in a proposed €86 billion ($95.78 billion) bailout, which German Chancellor Angela Merkel has declared essential to win parliamentary backing in Berlin.

Following the bailout agreement, Merkel said trust with Greece 'needs to be rebuilt,' but added that she backed the deal with 'full conviction' 

APPLE OFFERS FREE 30-DAY ICLOUD USAGE TO LONG-SUFFERING GREEK SUBSCRIBERS

While eurozone leaders worked to thrash out a new bailout deal for Greece, technology giant Apple also extended a helping hand to the country's long-suffering citizens.

With Greek banks closed and the country effectively operating as a cash economy, millions of residents face the oft-overlooked problem of having online subscriptions expire. 

Aware of the problems that could arise if users' iCloud subscriptions expire, Apple is allowing Greeks 30 days of free iCloud usage.

Apple sent an email to subscribers making them aware of the unexpected offer. 

'To prevent interruption in your iCloud service during the current fiscal crisis, and to make sure you have access to your content, we've extended your iCloud storage plan for an extra 30 days at no additional cost,' the email read.

'We won't attempt to charge you for your plan until 30 days after your original renewal date. If we are unable to renew your plan, you may need to reduce the amount of iCloud storage you use,' it went on to say.

However, in a sign of how hard it may be for Tsipras to convince his own Syriza party to accept the deal, Labour Minister Panos Skourletis said the terms were unviable and would lead to new elections this year.

As the hours ticked away overnight, most of the leaders were forced to cool their heels, playing computer games or taking a nap in their delegation offices while Tusk and the leaders of Germany, France and Greece met several times privately to try to cut through the final knots.

Tsipras will now have to rush swathes of legislation through parliament this week to convince his 18 partners to release bridging funds to avert a state bankruptcy and just to begin negotiations on a three-year loan.

If the summit had failed, Greece would have be staring into an economic abyss with its shuttered banks on the brink of collapse and the prospect of having to print a parallel currency and in time exit the European monetary union. 

Speaking to BBC Radio 4's Today programme George Katrougalos, Greek Alternate Minister for Administrative Reform, said: 'It is a very hard dilemma for us.

'It is an agreement that is practically forced upon us but I think all of this discussion in the Euro group shows that the real issue is not Greece, it was never Greece.

'Clearly it is the Europe of austerity that has won but not without showing to the whole world the essence of the problems... I don't want to sell anything to anybody, everyone understands in Greece. This is a forced agreement.'

'Grexit has gone': European Commission President Jean-Claude Juncker (centre) said there was no longer any risk of Greece crashing out of the euro after Greek PM Alexis Tsipras (left) agreed the bailout deal

'Grexit has gone': European Commission President Jean-Claude Juncker (centre) said there was no longer any risk of Greece crashing out of the euro after Greek PM Alexis Tsipras (left) agreed the bailout deal

Up all night: The deal was finally struck after 16 hours of marathon negotiations in Brussels 

Up all night: The deal was finally struck after 16 hours of marathon negotiations in Brussels 

Worn out: Journalists can be seen falling asleep at the end of the euro summit meeting this morning

Worn out: Journalists can be seen falling asleep at the end of the euro summit meeting this morning

Still struggling: Pensioners sit at the main gate of the national bank of Greece as they wait to withdraw a maximum of €120 ($134) for the week in central Athens this morning

Still struggling: Pensioners sit at the main gate of the national bank of Greece as they wait to withdraw a maximum of €120 ($134) for the week in central Athens this morning

Katrougalos described today's agreement as the 'political murder of our economy', adding that he believes Greece is being blackmailed because the country have no other choice.

'This is not the way that Europe can go forward' he said...The basic obligation is to remain alive to the next battle. We hope that Europe is not going to stay as it is now,' he said.

'I have full confidence in our Prime Minister. I know he has given personally a very bitter and strong fight against the measures. He wants our country to survive and I have full trust in his political instinct. I think the basic issue is not the economy, it is politics.

Katrougalos said he believed the agreement signified that there is a 'global war against the middle class and the working class,' adding: 'This war must be won by the other forces'. 

Meanwhile UKIP MEP Nigel Farage said: 'If I were a Greek politician I would vote against this deal. If I were a Greek 'no' voter I would be protesting in the streets. 

'Mr Tsipras's position is now at stake. This conditional deal shows that national democracy and membership of the Eurozone are incompatible.

Greek Prime Minister Alexis Tsipras says his country fought 'a difficult battle' for the past six months to win a financial aid agreement that will allow his country 'to stand on its feet'.

He says: 'We found ourselves before difficult decisions, tough dilemmas. We took the responsibility of the decision in order to avert the implementation of the more extreme aims (of) the more extreme conservative circles in the European Union.'

He says Greece managed to resist a request that Greece transfer public assets abroad as well as a 'plan of financial suffocation and the collapse of the banking system,' which he said had been 'planned down to its last detail recently' and had already started to be implemented.

Crush: A bank employee distributes priority tickets to elderly people allowing them to enter into a branch today

Crush: A bank employee distributes priority tickets to elderly people allowing them to enter into a branch today

A bank employee distributes priority tickets to elderly people allowing them to enter into a branch today

A bank employee distributes priority tickets to elderly people allowing them to enter into a branch today

Senior citizens wait to collect their pensions outside a National Bank of Greece branch in Kotzia Square in central Athens this morning. Pensioners are currently allowed to withdraw up to €120 from their pensions

BANKS IN GREECE REFUSING TO EXCHANGE STERLING FOR EUROS

Banks in Greece are refusing to exchange sterling for euros, leaving cash-strapped tourists searching for any ATMs which are still working.

Alan Seabury, a visitor to the Greek island of Naxos, told a Press Association reporter the bank on the island had refused to exchange his currency, with tellers saying they had been told not to change any money.

The 63-year-old from Sale, Trafford, said it is 'business as usual' among Greek residents.

'Locals do not appear to be unduly worried about the crisis,' he said.

'They shrug their shoulders, smile and give a resigned, pained look.'

Across the island of Naxos credit cars are reportedly less welcome among business owners, with vendors needing access to cash to keep operating. 

But in Athens most hotels and many bars and restaurants were still accepting card payments.

Tsipras stresses Greece won concessions on restructuring Greece's debt and assured medium-term financing.

Stock markets across Europe have spiked higher as investors breathe a sigh of relief that months of discussions have yielded a bailout agreement for Greece.

Germany's DAX was 1.2 percent higher while the CAC-40 in France rose by 1.6 percent. The Stoxx 50 index of top European shares was up 1.7 percent.

Craig Erlam, senior market analyst at OANDA, said markets responded positively to the news as it helps ease concerns that the country was heading for a 'messy exit' from the eurozone.

Worries over so-called Grexit and what it could do to the fragile global economic recovery have weighed on stock markets this year.

If Greece meets the conditions, the German parliament would meet on Thursday to mandate Merkel and Finance Minister Wolfgang Schaeuble to open the talks on a new loan. Then Eurogroup finance ministers could formally launch the negotiations.

Perhaps the toughest condition for Tsipras to swallow was Germany's insistence that Greek state assets worth up to 50 billion euros be placed in a trust fund beyond government reach to be sold off with proceeds going directly to pay down debt. 

A homeless man sleeps as people wait to withdraw cash from a bank machine in central Athens today

A homeless man sleeps as people wait to withdraw cash from a bank machine in central Athens today

Pensioners wait to collect their money outside a National Bank of Greece branch in Athens' Kotzia Square

Pensioners wait to collect their money outside a National Bank of Greece branch in Athens' Kotzia Square

A pensioner talks with a bank employee as he waits outside the National Bank of Greece this morning

A pensioner talks with a bank employee as he waits outside the National Bank of Greece this morning

Berlin initially wanted to use a structure in Luxembourg managed by its own national development bank, KfW, but diplomats said it was flexible on the location.

EU and IMF experts evaluate Greek assets currently earmarked for privatisation at just 7 billion euros.

One diplomat said that was tantamount to turning Greece into a 'German protectorate', stripping it of more sovereignty.

But Merkel declared the matter a 'red line' for Germany.

For his part, Tsipras demanded a stronger commitment by the creditors to restructure Greek debt to make it sustainable in the medium-term. That could be his only hope of selling such a deeply unpalatable package to his own supporters and the public.

An EU official said several options were under consideration to give Greece bridging funds once it passed the laws, but no final decision was taken.

They included releasing European Central Bank profits on Greek bonds, tapping an emergency fund run by the European Commission, or bilateral loans from friendly countries such as France. Two French sources denied any bridging loan was planned.

A bank employee opens the main gate of the national bank of Greece as pensioners wait to withdraw a maximum of €120 ($134) for the week in central Athens today

A bank employee opens the main gate of the national bank of Greece as pensioners wait to withdraw a maximum of €120 ($134) for the week in central Athens today

Nowhere to go: Men sit in the street in downtown Athens earlier this morning

Nowhere to go: Men sit in the street in downtown Athens earlier this morning

All smiles: European Commission President Jean-Claude Juncker (pictured) said there was no longer any risk of Greece crashing out of the euro after Athens agreed a bailout deal with eurozone partners

All smiles: European Commission President Jean-Claude Juncker (pictured) said there was no longer any risk of Greece crashing out of the euro after Athens agreed a bailout deal with eurozone partners

Finance ministers said Greece needed 7 billion euros of funding by July 20, when it must make a crucial bond redemption to the European Central Bank, and a total of 12 billion euros by mid-August when another ECB payment falls due.

Some diplomats questioned whether it was feasible to rush the package through the Greek parliament in just three days. Tsipras is set to sack ministers who did not support his negotiating position in a vote last Friday and make dissident lawmakers in his Syriza party resign their seats, people close to the government said.

Greek sources said Tsipras feared a public backlash in Greece when the terms of the bailout become known.

Even while Tsipras was still at the table in Brussels, one of his ministers went on television to say he could not blame lawmakers who would find it hard to say 'Yes' to the emerging cash-for-reforms deal.

'It's clear this deal does not represent us,' Skourletis said.

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