Summary

  • Eurozone leaders agree to a deal over Greece after night-long talks

  • Greek assets to be put in special fund to help finance banks

  • Greek banks will stay shut

  • Greek parliament will have to pass reforms by the end of Wednesday

  • Tsipras: Deal averts 'most extreme plans'

  • Merkel: Greek debt forgiveness 'out of the question'

  • Eurogroup finance ministers will discuss bridge financing for Greece

  • All times BST (GMT+1)

Live Reporting

Katie Hope, Matthew West, Thom Poole, James Reevell, Ben Morris, Howard Mustoe and Alastair Lawson

  1. Where is the money?

    Women withdraw money from an ATM in AthensReuters

    A key question over the coming days is over so-called bridge financing, essentially emergency money for Greece as the full bailout is worked out. Our correspondent Jonny Dymond writes:

    Various different sources are being considered. There was talk that France might be a source of a bilateral loan, but French officials appear to have denied this. Another pot might be the European Financial Stability mechanism, but that would need agreement from most of the 28 member of the EU, and seems unlikely. Time is of the essence, and right now, it's not clear where the money to keep Greece afloat will come from.

  2. Berenberg Bank sees reasons to be cheerful

    Holger Schmieding, Chief Economist at Berenberg Bank, despite some reservations, believes the deal could work . Listing a number of factors he says are positive, he concludes:

    Greece needs to restore trust and emerge from recession. With the imperfect and fragile half-deal struck early this morning, Greece now has a chance to get exactly that.

  3. Anger in Athens

    Greek journalist Makis Sinodinos has been tweeting pictures of protests against the agreement...

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  4. Who is behind the Greek crisis hashtag #ThisIsACoup

    #ThisIsACoup trends worldwide as people vent anger over the Greek debt deal. But the hashtag started in Spain.

    Who is behind the Greek crisis hashtag #ThisIsACoup

    #ThisIsACoup trends worldwide as people vent anger over the Greek debt deal. But the hashtag started in Spain.

    Read More

  5. Greek minister warns of recession

    Eurozone leaders have agreed to offer Greece a third bailout, but a senior minister has warned that the combination of austerity measures and the temporary closure of Greek banks will tip the country back into serious recession.

  6. 'You couldn't make it up'

    The eurozone has agreed to loan even more money to Greece, so that it can make payments on the loans already made! What a script line, so brilliant  you couldn't make it up.

    Anthony Begg, Business live reader

  7. It's all Greek to me

    Associate editor at Euromoney tweets

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  8. Euro crystal ball gazing

    BBC Radio 4 Today presenter tweets

  9. Athens protests

    The Adedy civil servants union, who as we reported earlier has called a strike for Wednesday is already out on the streets. This tweet from freelance journalist Nick Barnets.

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  10. 'Work to do' for Germany

    BBC economics editor, Robert Peston, considers the moral indignation directed at Germany following the talks.

    I think Germany, in particular, has a bit of work to do in the coming weeks and months to prove that it still shares the European ideal, and the idea that Europe is a family. Because, it if is a family, it looks like a family at war.

  11. 'Coup' says Kammenos

    Panos Kammenos, the leader of the Independent Greeks partyReuters

    Panos Kammenos, the leader of the Independent Greeks party, has joined those condemning the agreement, reports Nick Malkoutzis of the Greek daily Kathimerini English. They are Syriza's junior coalition party.

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    But despite this it is also being reported Mr Kammenos will stay in government.

  12. 'It ain't over 'til it's over'

  13. Not a Dijsselbloem fan

    One business live reader doesn't think much of the Eurogroup president.

    Dijsselbloem! If Germany says jump he just says how high!

    Andy Janet, Business live reader

  14. Greece compromise tough for Athens

    Slovakia's Deputy Prime Minister, tweets:

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  15. Praise for Dijsselbloem

    The EU economic affairs commissioner, Pierre Moscovici now has the floor at the eurozone conference.

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  16. Dijsselbloem re-elected

    Some news on the Euro Group, which co-ordinates policy for the single currency.

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  17. European investors cheer Greek deal

    Trader in LondonGetty Images

    Shares in London and other key European markets were boosted by the news that eurozone leaders have reached a deal on a third bailout for Greece.

    By the close, the FTSE 100 had gained 0.97%, or 64.57 points, to end at 6,737.95.

    France's CAC-40 closed up 1.94% at 4,998.10 while Germany's Dax ended up 1.49% at 11,484.38.

  18. Greek in 'serious recession'

  19. The BBC's Mark Lowen says the Greek deal has implications for Spain's Podemos party

  20. Any questions?

    The BBC's Ros Atkins is putting them to the BBC's Economics Editor Robert Peston later today...