Negotiations to the bitter end during the night for the most difficult Eurosummit on Greece in its history. According to the latest rumors, a compromise appears to emerge from the four-way pre-summit made up of Chancellor Angela Merkel, French President Francois Hollande, European Council President Donald Tusk and Greek Prime Minister Alexis Tsipras.
According to preliminary information, Europe's request to Athens to approve the main reforms of the Tsipras plan (VAT, pensions, privatisations) and to create a guarantee fund of 50 billion based in Athens to be able to start the third program remains this week bailout of Greece, which would otherwise seriously risk default.
Italy would help sweeten the German hawks with a willingness to offer Greece bilateral loans.
Tsipras, on the other hand, would not like the full involvement of the IMF in the new plan but will have to make the best of a bad luck if he wants the aid he cannot do without.
