Greek deal: Fears bailout will lead Greece into deep recession

Greek prime minister Alexis Tsipras is fighting for his political life, having agreed to a bailout that analysts predict will drive the country into two years of recession.

To keep his country in the eurozone, he needs the parliament to vote for the deepest series of cuts and changes to Greece’s economy, including legislation that is still being written, and to do so by tomorrow night.

Then eight national parliaments need to agree that the creditors — the EU, ECB, and IMF — can begin to negotiate the detail of the programme in exchange for up to €86bn over three years.