Finance Minister Euclid Tsakalotos during his address to the Parliament admired that it is too soon to judge if the deal is a good or a bad one.
Tsakalotos made a brief presentation of the “prior actions” demanded by Greece's creditors as a sign of rebuilding trust after six months of often acrimonious talks.
He said that the Greek negotiating team during talks with eurozone creditors had to take in consideration the outcome of the referendum as well as Greece's commitments within the European Union.
He admitted that negotiations were tough and that the new measures will impose further austerity but it was the only alternative to being expelled from the shared euro currency.
“The neoliberal approach prevailed and its contested if the reforms will produce growth” Tsakalotos said, but he stressed that many of the measures will contribute toward wealth redistribution, such as the “special solidarity contribution” for annual incomes over €30,000.
He also said that the Greek delegation managed to persuade the eurozone that a new investment fund, that will manage and sell off €50bn Greek assets, would be based in Athens not Luxembourg.
“If the first review of the measures implemented is successful Athens could receive a grace period before it has to start paying off its debts, debt relief could also be examined.” he added.