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Greek Prime Minister Alexis Tsipras’s Syriza party looked set to split after the leader of its far-left faction called for a new movement to fight a bailout deal that lawmakers will vote on later on Thursday.

Berlin is the main creditor of Greece and its approval is needed in order for the new bailout package to be given to Athens so that it can repay Euro 3.4 billion (USD 3.7 billion) to the European Central Bank by an August 20 deadline. The Greek parliament will vote on over 50...

Is the worldwide Monetary Fund on board? The first tranche of bailout funds will flow to Greece once its fellow eurozone nations agree. At this stage it is unclear. We still need to talk with each other on a few issues. Greece will only avoid the threat of “Grexit” if...

Prime Minister Alexis Tsipras has said he expects the bill to pass.

Greece has more or less concluded its bailout discussions with global creditors, officials have said, raising hopes the country could be ready to finalise a deal within the day.

Greece and its worldwide lenders reached a multibillion-euro bailout agreement yesterday, potentially saving the country from financial ruin.

“We’re talking about a program for three years, it needs to be negotiated thoroughly”, Deputy Finance Minister Jens Spahn told Germany’s ARD television shortly before Greece and its worldwide lenders said they had concluded a new bailout package.

The Athens stock exchange closed down 2.44pc at 643.86 yesterday, after falling by as much as 4.4pc, while an index of the country’s top four banks fell 25pc to 246.50. To avoid defaulting on it, Greece would need money from the bailout program it is negotiating or, short...

The European Union agreed that this position was “fully compatible” with its own agenda on a Greek bailout, which could be worth up to €86 billion (RM361.97 billion).

Don Gimbel, global portfolio manager of Geneva Advisors in Chicago – who oversees $9 billion – asks, “Why would anybody want to be invested in a controlled market?”

Play video “Greece Crisis: Brain Drain To UK”.

Greek crises has many unanswered questions and silent reservations, where the bailout plan of €86 billion could still be scraped and further developments may experience criminal proceedings, regarding the former finance minister.

But a European source said it was not yet confirmed that the talks would begin Friday, adding that at most “only a few people” from the so-called troika of creditors would arrive before the weekend.

“This would have created a parallel banking system, which would have given us some breathing space, while the banks would have been shut due to the ECB’s aggressive policy”, Varoufakis was quoted as saying.

“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.