Germany and France are unhappy because the deal has not yet been signed, but it's hard to criticize Greece for considering all options (again) with signing up for a $170 billion bailout. They've been here before and there's a high chance of being in this same position again in the near future. The plan involves even more austerity, which means even less growth and more social turbulence. No matter how much cash is shoveled over, will it really be a rescue plan or will it turn out to be financial handcuffs for a generation or more?
Greece's government is preparing the text of an agreement on a 130 billion euro bailout that must be put to political leaders for approval, a Greek government official said, suggesting Athens had largely wrapped up talks with lenders on the rescue. The political leaders are due to discuss that agreement late on Tuesday. "The Greek government is working on the final document that will be discussed at the political leaders' meeting later in the day," a government official, who declined to be named, told reporters.