Merkel: Greece will remain in the eurozone

While addressing the Bundestag she noted that "Germany is going well when Europe is going well" reiterated Merkel but clarified that the 86 billion euros of the third support programme to Greece are an unprecedented action of solidarity and admitted that the agreement is very difficult for the Greek citizens.

"Europe needs to have the ability to compromise" she noted but also reiterated that there can't be a 'haircut' of the debt within the eurozone. "We had three options, to change the rules, to abandon Europe or to cooperate in order a solution to be found" said Merkel and noted "the agreement is difficult for Greece. Greece must bring results and it already brings but the credibility has been lost."

She expressed her certainty that the advantages of the deal are more than the disadvantages "We did not only decide for Greece but for a powerful Europe and eurozone. We do not only do it for the people in Greece but also for the people in Germany" she said and thanked German Finance Minister Wolfgang Schaeuble for his efforts.