Greece’s hopes of securing a fresh bailout to save it from financial collapse now hinge on whether it can push through punishing austerity measures and economic overhauls in the coming days despite the volatility of Greek politics.

The rescue deal—hammered out Monday morning after a weekend of often-acrimonious negotiations among eurozone leaders and finance ministers—gives the debt-stricken country a fighting chance to hold on to the euro as its currency.

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