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Greece braced for bailout protests
Greece is expecting large protests against further budget cuts, following a €130bn bailout deal aimed at avoiding bankruptcy.
Large protests are expected in Greece following the bailout agreement which is to see further austerity measures implemented including a 22% cut in minimum wage and reductions in pensions
Meanwhile the government is finalising emergency legislation demanded by international lenders, with Finance Minister Evangelos Venizelos saying it "has avoided a nightmare scenario" by agreeing to the bailout.
The country has already been through a massive austerity programme in return for an earlier bailout, and many are angry at the prospect of years more hardship.
Athens last week saw the worst rioting in years after parliament passed the deeply unpopular austerity measures.
More confrontations between protesters and police are expected on Wednesday over the measures demanded by other eurozone governments and the International Monetary Fund as a condition for the rescue.
Under the bailout agreement made on Tuesday in Brussels Greece will have to reduce its debt from a current 160% of GDP to 120.5% by 2030, private holders are to Greek debt are to take a loss of 53.3% of the value of bonds, though real losses are estimated to be in the region of 70%, Eurozone monitors will permanently oversee Greece's economic management and a constitutional change will give priority to debt repayment over funding of government services.
The country has just over a week to approve a round of spending cuts of more than €3bn tied to the bailout, including a cut in the €751 minimum wage by 22% and further cuts to pensions.
