Alexis Tsipras to face take-it-or-leave-it ultimatum from lenders over debt offer

The Greek prime minister, Alexis Tsipras, will be presented with what is expected to be a take-it-or-leave-it plan on Wednesday after five months of drama-filled negotiations to keep his debt-stricken country afloat.

The radical left leader is to be given the ultimatum after lenders at the EU, European Central Bank (ECB) and International Monetary Fund (IMF) agreed on the contours of a cash-for-reform deal late on Tuesday.

The agreement, reached after emergency talks in Berlin on Monday, would unlock €7.2bn (£5.2bn) in rescue loans for the cash-strapped country but demand tough economic changes in return. Continue reading