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£38.5bn and deal can be done, says Greek PM Alexis Tsipras

By David Hughes

Published 13/07/2015

Greece's prime minister Alexis Tsipras is pushing for a new bailout from eurozone creditors (AP)
Greece's prime minister Alexis Tsipras is pushing for a new bailout from eurozone creditors (AP)

Greek prime minister Alexis Tsipras insisted that a deal to offer an economic lifeline to his debt-stricken country can be reached as leaders from the eurozone held crisis talks last night.

Mr Tsipras said he was ready for an "honest compromise" with the other 18 leaders in Brussels as they considered his application for a third bailout - a £38.5bn three-year financial package.

Greece runs the risk of bankruptcy and crashing out of the single currency unless it can persuade the eurozone to agree the bailout in exchange for economic reforms and austerity measures.

But German chancellor Angela Merkel said there would "not be an agreement at all costs".

Mr Tsipras said: "I am here ready for an honest compromise. We owe that to the people of Europe, who want Europe united, not divided."

Meanwhile, banks in Greece are refusing to exchange sterling for euros, leaving cash-strapped tourists searching for any ATMs which are still working.

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