Greece PM rallies support for tough bailout terms

Greek Prime Minister Alexis Tsipras on Tuesday battled to hold his ruling Syriza party together as opposition mounted to a shocking new bailout deal that requires Athens to push through draconian reforms within two days.

With around 30 hardline Syriza lawmakers threatening to oppose the latest tough reforms demanded by Greece’s international creditors, Tsipras faced the unenviable task of turning to pro-austerity opposition parties to push the deal through parliament by tomorrow.

In the agreement struck yesterday with the eurozone to prevent Greece crashing out of the euro, the Greek parliament must pass sweeping changes to labour laws, pensions, VAT and taxes.

Only then will the 18 other eurozone leaders start negotiations over what Greece is to get in return: a three-year bailout worth up to 86 billion euros (USD 96 billion), its third rescue programme in five years.

With much of the party up in arms, Tsipras loyalists were hard at work to convince a sceptical party that the tough cuts could be softened through alternative measures.