With the deal done, Greece is now racing for Parliament to pass 7 Greek laws by Wednesday before midnight sweeping huge changes in labour laws, pensions, VAT and other taxes
-Ratifying eurozone summit statement
-VAT changes: Top rate of 23% to extend to processed food, restaurants, 13% to cover fresh food, energy bills, water and hotel stays, 6% for medicines and books
-VAT discount of 30% to be abolished on islands, but remotest islands to keep discount until next year
-Corporation tax raised from 26-29% for small companies
-Luxury tax for big cars, boats and swimming pools up from 10-13%; farmers’ tax up from 13-26%
-Early retirement to end (phased in by 2022); retirement age raised to 67
-Greek statistics authority Elstat to have full legal independence
Only then will the 18 other eurozone leaders will start negotiations over what Greece is to get in return: a three-year bailout worth up to 86 billion euros ($96 billion), its third rescue programme in five years. If the agreement fails, Greece could be forced to leave the eurozone. Let’s wait until this evening…clock is now ticking fast!