The measures that the Greek parliament agreed to in the early hours of the morning have received an initial green light from the European Union and International Monetary Fund ahead of a critical meeting of the Eurozone finance ministers in Brussels.
Bailout talks are now very likely after the European Commission, European Central Bank and IMF told Eurozone governments Tsipras’ proposals were a sufficient basis to start negotiating again for a third bailout.
Read more: Greek MPs back Alexis Tsipras’ bailout plan
The discussion later today will not focus on terms for a bailout, but instead on whether there are grounds for negotiations that will lead to a bailout.
Concessions have been made by Tsipras, including disputed issues such as pensions, VAT and tax.
Any proposal will need to be examined by the EC, the ECB and IMF.
Tsipras, meanwhile, will need to sell the proposals to his country, as well as many of his party who abstained from the vote due to the austerity it will entail.