Greek PM says will not implement measures beyond those set at summit

“We are satisfied with the smooth and constructive cooperation with the Greek authorities, and that should now allow us to progress as swiftly as possible”, Mina Andreeva, a European Commission spokeswoman, said in Brussels.

Slovakia’s Finance Minister Peter Kažimír tweeted on the Varoufakis leak, “We need to make sure that such two-faced “games” will be avoided when debating & drafting the third bailout package for Greece”.

Intensive talks with officials from the Commission, the ECB, the worldwide Monetary Fund and the euro zone’s rescue fund, the European Stability Mechanism, began on Monday. Since 2008, the economy has shrunk more than a quarter – with unemployment hitting record peacetime highs of more than 25 percent.

(Vatican Radio) Greek Prime Minister Alexis Tsipras is working to hold his Syriza party together amid mounting dissent from its far left wing.

The U-turn was necessary after talks with bailout creditors came very close to collapse and Greece was threatened with exit from the euro currency union unless it agreed.

Greece did not request a further increase in Emergency Liquidity Assistance (ELA) from the European Central Bank on Wednesday, in a sign Greek banks are not burning through cash as fast as previously feared, sources familiar with the situation said.

Greece’s parliament has already approved two batches of reforms, drastically increasing sales tax on key consumer goods, and reforming the banking and judiciary systems. Tsipras has been able to pass legislation demanded by creditors only with the help of opposition parties.

But that deal was tentative and seems only more so now.

Varoufakis said once the significant quit Syriza party grabbed to strength he’d been licensed by Tsipras to try the look before the basic election in January And they insisted that his activities were appropriate, inside the interest that was public and geared toward preserving the united states within the 19-state eurozone.

Varoufakis said that beginning in December he convened a team of five people who developed plans to create an alternative to the Greek banking system and ensure there was still a way for people to carry out transactions.

Varoufakis made the claim in a leaked conference call with London investors, during which he said he had been secretly building a parallel money system that involved hacking into his ministry’s computers because they were controlled by the creditors.

The head of the finance ministry’s IT services denied that the ministry systems had been tampered with, adding that adequate protection measures are in place.

With talks on the bailout now under way, Mr Tsipras said he would hold a special congress on Syriza’s future, likely to be in early September once the negotiations have wrapped up.

The inquiry will not focus on Varoufakis himself, since courts cannot investigate ministers or lawmakers who enjoy parliamentary immunity from prosecution. For this reason, Varoufakis said he assembled a small team to work on the secret plan, headed by a “trusted” childhood friend who later became an IT professor at Columbia University and then worked as technology minister under Varoufakis.