Greece vs Europe: who blinked first in the bail-out battle?

A Greek flag flies as a man leaves a clothes shop in the port city of Piraeus, near Athens (AP)

Mehreen Kahn
© Telegraph Media Group Limited

Following internal turmoil among the ruling Syriza party over the terms of the reprieve, the Greek legislature will only be given the chance to "debate", rather than officially ratify, the four-month extension.

In an ironic twist of the EU's democratic procedures, Greece's 18 fellow eurozone parliaments will still need to rubber-stamp the deal.