Greek MPs back bailout deal

The Greek parliament has backed draft conditions for a third bailout package in five years after a debate that lasted through the night and well into the morning.

The proposed deal includes tax rises and spending cuts in return for a bailout package worth around €85 billion.

222 MPs voted in favour of the deal, with 64 against and 11 abstentions. However, 31 “No” votes and all 11 abstentions came from Syriza MPs – the biggest rebellion that Prime Minister Alexis Tsipras has had to face within his own party so far.

Reports in Greece claim that Tsipras will ask for a confidence vote before parliament in the coming week.

Voting on the package started just after 09:30am local time, over six hours after the main debate began.

One of Tsipras' most vocal critics within Syriza was parliamentary speaker Zoe Konstantopoulou who faced calls from a visbly frustrated Tsipras to hurry her handling of the bill and not delay the timing of the debate.

Syriza MP and former energy minister Panagiotis Lafazanis, told Tsipras: "I feel ashamed for you. We no longer have a democracy, but a eurozone dictatorship."

In two prior votes on bailout reforms, Mr Tsipras had faced rebellions from his own party, with more than 30 of Syriza's 149 MPs refusing to approve the previous tax increases, pension cuts and market reforms.

Rebels have insisted the government should make good on its electoral promise to reverse spending cuts and tax rises.

The government has defended the controversial new programme as tough but essential if the country is to avoid financial collapse.

The bailout terms will now be discussed by Eurozone finance ministers later on Friday.

Greece faces an urgent deadline on 20 August, when it must repay about €3.2 billion to the European Central Bank (ECB).

If it had failed to agree on new terms, the ECB could have stopped giving emergency funds to Greek banks.