Greece bailout decision.

Greece awaits eurozone bailout decision.

Eurozone leaders have talked through the night in Brussels in a bid to agree terms for a new bailout for Greece.

Without a new bailout, Greece's banks face collapse and the country could exit the euro.Greece is being told to pass legislation on a series of reforms by Wednesday before any talks on another bailout can begin.

The summit was paused for several hours overnight to allow talks between Mr Tsipras, German Chancellor Angela Merkel, French President Francois Hollande and European Council President Donald Tusk.

Early on Monday, Mr Tusk's spokesman announced the summit was reconvening to discuss a "compromise proposal".

The four-page document of draft proposals put forward by eurozone finance ministers include:

• Reforms set out by Greece to be ratified by parliament by Wednesday, 15 July
• "Ambitious" reforms to pensions and labour markets
• International creditors to work on the ground in Athens and have full oversight of draft legislation
• Possible transfer of €50bn in "valuable" Greek assets to external fund for eventual privatisation
• Possible talks on "swift negotiations on a time-out from the euro area, with possible debt restructuring" if a bailout is not agreed.

  
  

  
  

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Car Bomb :Italian Consulate in Egypt

Islamic State steps up North African expansion campaign with Egypt-Italian consulate bombing.

A high-profile bombing of Italy's consulate in Cairo by jihadist group Islamic State was a "warning" to Egypt and a step up in the conflict against the West, an Arab affairs expert has said.

A car bomb struck the consulate on Saturday, killing a civilian and wounding nine people in the first attack on a foreign mission in Egypt since jihadists launched an insurgency against the country's security forces two years ago following a crackdown on Islamists.

Islamic State (IS) claimed the car bomb attack, following calls by the group's spokesman Abu Mohamed al-Adnani urging strikes on Western targets wherever possible.

origina post found herhttp://www.abc.net.au/