Greece has to choose whether to take the eurozone more cuts or be forced out of the single currency

The Greek government has told rebellious MPs to back a deeply unpopular euro rescue package or send the nation down "an unknown, dangerous path" to default and international economic isolation.

The deputy finance minister, Filippos Sachinidis, said the consequences of failing to accept the bailout terms were "incalculable" for the country.

"Let's just ask ourselves what it would mean for the country to lose its banking system, to be cut off from imports of raw materials, pharmaceuticals, fuel, basic foodstuffs and technology," he said.

Greece is facing an acute political and social crisis as the bankrupt state prepares to decide whether it can stay in the single currency.

Five ministers have so far resigned in protest at the scale of the spending cuts demanded in return for the new €130bn (£108bn) bailout.

Evangelos Venizelos, the Greek finance minister and socialist leader, said the country had until Sunday to choose whether to take the eurozone medicine of more cuts – or default on its debt next month and be forced out of the single currency.

Sources:
guardian.co.uk