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The country issued a clarification yesterday saying that no deal had been reached until Greece passes laws to mandate up to 18 per cent in pension cuts. Greek ministers emerged from 12-hour talks in Athens on Tuesday to announce a deal had been reached with the country's leaders. They were supported in their rhetoric by European Union commissioner Pierre Moscovici who issued a statement lauding the apparent agreement.

GETTY Angela Merkel met Alexis Tsipras in Brussels five days ago

He said: "The agreement reached overnight in Athens on the Greek Stability Support Programme is a very positive development following months of complex negotiations". Now German Finance Minister Wolfgang Schäuble who is meeting with European finance ministers in Malta later this month has clarified the situation saying no deal has been reached. And he has given Greek Prime Minister Alexis Tsipras an ultimatum that he do what the country orders him to do or the deal is off.

GETTY Angela Merkel whispers to Gentiloni while Tsipras clasps hands

He said: "The government has not yet fulfilled all the agreements." Yesterday it was revealed Germany is not keen to rock the boat and bail Greece out despite the migrant crisis of 2015 which is causing crisis in the country. German Chancellor Angela Merkel is said to be sticking to her guns on the bail out deal so she does not come under fire from her own people.

Getty Angela Merkel had a meeting with Tsipras

The EU and Germany have been criticised for their handling of the 2015 Migrant Crisis which is still continuing to this day. Yesterday it was reported Schäuble cut a deal with IMF chief Christine Lagarde to create another European monetary fund so Germany can avoid underwriting Greece's debt in future. The news comes as Yanis Varoufakis, the former Greek finance minister, claims a German finance minister privately admitted he would not have personally gone through with the crippling austerity policies.

In an explosive tell-all book, Mr Varoufakis reveals how Wolfgang Schäuble admitted he would not have gone through with EU-ordered measures. Greece notified its creditors that it was struggling to meet their exacting demands last December over fears it could not repay €6 billion of debt by a July deadline. But Germany and other lenders have refused to restructure the debt in a bid to drive uncertainty which is adding to banks capitalisation issues. This is while the European Central Bank has allowed money to be printed in Germany and France to keep their economies afloat.

Shocking images depict riots on May Day Mon, May 1, 2017 May Day demonstrations, rallies and celebrations around the world. Play slideshow AFP/Getty Images 1 of 17 Riot police during demonstration In Paris