Greece seeks support for new bailout deal

Greek prime minister Alexis Tsipras bows to creditor's demands in latest letter.

By Brian Johnson

Brian Johnson is Managing Editor of The Parliament Magazine

01 Jul 2015

The FT's Brussels' bureau chief Peter Spiegel reports on twitter that Greek prime minister Alexis Tsipras has sent a follow up letter to the European commission, International Monetary Fund and European Central Bank that essentially accepts, with some minor tweaking, the original proposal put forward by the country's bailout creditors earlier this week.



However, despite Tsipras' apparent U-turn in the face of Greece's default on its IMF loan on Tuesday, all the unofficial reports so far indicate that the country's creditors will hold back from agreeing to any new deal until after this weekend's Greek referendum vote.

Spiegel's latest tweet suggests that Greece's creditors are suspicious and are "signalling a pushback on Tsipras' new bid because the Greek PM is still holding out on items amounting to "hundreds of millions".

Meanwhile, in a fast changing political environment, the country's enigmatic finance minister Yanis Varoufakis has hinted that the Greek government may look to see if it can cancel this Sunday's referendum  and may even reverse its position and urge supporters to vote yes if the deal in the new letter is accepted.

Eurozone finance ministers are set to discuss Tsipras' new deal during a teleconference later today.