He said the deal could bring new investment to help the country pull itself out of recession and avoid the collapse of its banking system. "The deal is difficult but we averted the pursuit to move state assets abroad. We averted the plan for a financial strangulation and for the collapse of the banking system," Tsipras told reporters after all night talks.

"In this tough battle, we managed to win a debt restructuring," he said. Euro zone leaders clinched a deal with Greece on Monday to negotiate a third bailout to keep the near-bankrupt country in the euro zone after a whole night of haggling at an emergency summit.

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