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Eurozone leaders appear to have reached a compromise deal that would secure Greece a third bailout in a Eurogroup summit that has gone on through the night in Brussels.
After a marathon 15 hours of talks, the longest EU summit on record, Charles Michel, the Belgium prime minister, tweeted the word: "Agreement".
Banks in Greece are still closed signalling that without the emergency funding they do not hold enough cash to reopen.
Mr Tsipras sounded upbeat before the summit, telling reporters, “I am here, ready for an honest compromise.” He was buoyed by a softening of tone by some countries: the hawkish Finnish Finance Minister Alex Stubb, who was adamant on Saturday after the reportedly fractious eurozone ministers’ meeting that the only solution was a Greek exit from the euro, said: “I think there’s a very good proposal on the table.”
Last week economists now believe Greece will be forced to leave the Eurozone, according to a poll by Reuters on Wednesday. The 57 economists asked gave a median 55 per cent chance of Greece leaving the Eurozone. Reuters said it was the first time the balance had tipped to the likelihood of a so-called Grexit.Reuse content