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Former Greek Finance Minister Yanis Varoufakis said Wednesday the latest Greek bailout deal “is not going to work”.

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...

A man buys cherries in Monastiraki in downtown Athens on July 14, 2015.

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.

“In short, we maintain the view that a third bailout for Greece will not solve its deep-seated economic and fiscal problems or secure its future inside the currency union”, Loynes said.

Syriza lawmaker and dissenter Costas Lapavitsas reiterated his opposition and said he would not vote in favour of the new deal in Parliament.

A Greek government official said the hope is that a deal that “covers everything” will be concluded as soon as possible and indicated that one could be imminent by the time of a meeting of the eurozone’s 19 finance ministers on Friday.

“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.

Greece’s prime minister said his country was in the “final stage” of talks for a new bailout, as his left-wing government on Wednesday rejected the idea of extending the negotiations beyond this month.

Shares on the Athens Stock Exchange are suffering huge losses of over 22 percent after the market reopened for the first time in more than a month.

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).

Greece’s main stock index plunged over 22 percent as it reopened Monday after a five-week closure, giving investors their first opportunity since June to react to the country’s latest economic crisis.