IMF and EU Greece bailout, tax on kebabs to rise...

So what's the verdict?

With Greek banks allegedly running out of cash in 24 hours, Greeks voting no to more austerity cuts, the French pushing for Greek debt relief to allow them to remain in the Euro, and Germany standing fast and offering no concessions.

Has to be the highest stakes poker game going 

Wonder what the next 24/48 hours will bring?

So the drama rolls on..

Greek MPs are set to vote on new proposals for a bail out package, with the latest deadline being set for Sunday.

Robert Preston from the Beeb raises an interesting point about the latest proposals:

"If a way isn't found to allow the banks to reopen within days...the Greek economy will implode so that any bailout deal agreed this weekend will become irrelevant in weeks."

Greece debt crisis - MPs to vote on new bailout plan - BBC

It looks like the crisis will be shortly reaching a natural painful conclusion.

Until the next deadline.

I've never known so many "deadlines" - it wouldn't surprise me if the PM resigns and then there'll be another deadline to allow them to come up with another proposal. 

What is needed is a deadline to end all deadlines! 

It really has been an odd strategy and bizarre form of brinkmanship, which as you say has backfired on all levels.

From what I make out, although a high level proposal has been agreed, it's far from a done deal and there are still elements that could scupper it when they through all the details.

Not a good time to be a business owner. VAT up, Corp Tax up, luxury tax on nice motors in case you did make a healthy profit. As U turns go, this has to be one of the most spectacular.

I think this Greek tragedy still has a long way to go, and no doubt will turn up a few more unexpected surprises. But it looks like they will cling on to the Euro by their fingernails, even if the Germans are stamping on their hands 

So it looks like a Greek bail out deal has been just about agreed, to stop them going bust by the next deadline which is August 20th.

The new deal would see them receive £60bn which should see them through 3 years, and let them pay the previous bailout repayments.

Borrowing money to pay back money? Sounds like a teenager who has gone off the financial rails and the bank are about to cut their cards up.

I wonder how this thread will read in 3 years time, or if Greece will be able to turn things round. At least it looks like the Euro is secure for a little while longer.

Greece says bailout deal broadly agreed - BBC News