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A Greek minister gave on Monday the strongest indication yet that the government will call a confidence vote following a rebellion among lawmakers from the ruling Syriza party over the country’s new bailout deal.

Mr Schaeuble says he backs the new bailout deal – although he had earlier put forward a plan for Greece to take a “time out” from the euro, in order to stabilise its precarious finances.

“We welcome the successful vote in the Greek Parliament this morning”, said German Foreign Ministry spokesman Sebastian Fischer, whose country has been the single largest contributor to Greece’s previous two bailouts and is the country’s harshest critic.

Sri Lanka held a parliamentary election that will decide whether ex-president Mahinda Rajapaksa can stage a political comeback, as the leader who toppled him in January manoeuvred to block his path back to power.

In his letter, which President Sirisena had sent in his capacity as Chairman of the Sri Lanka Freedom Party (SLFP), he has noted that there were several seniors in the SLFP who deserved the prime ministerial position in the event of a UPFA win.

Broadly, this parliamentary election may mark a crossroads for Sri Lanka between a return to the heavy-handed authoritarian-leaning governance style espoused by Rajapaksa, or the broadly more inclusive and deliberative style of his successor and the incumbent president, Sirisena,...

The SLJS communiqué says “The general election on the 17th August, and its aftermath has the potential to be the most troublesome, and possibly the most violent election in Sri Lanka’s history unless President Sirisena respects the mandate of the people”. Under...

The bill on the rescue deal passed just in time for Greek Finance Minister Euclid Tsakalotos to head to Brussels to meet his counterparts from the 19-country currency union in the hope of getting their seal of approval as well.

To qualify for its third bailout in five years, Greece must agree to sweeping changes to the way it manages its economy.

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.

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...

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.

If the talks are not completed in time, European authorities may have to provide further temporary financing as they did with a July bridge loan, though Avgi said that possibility had not been discussed with lenders.