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But Grexit could have posed an existential threat to the project, and it was crucial for the other member states - most notably Germany - to show the political will hold things together.The UK is outside the eurozone, and is not liable for any losses by the ECB.The eurozone is also set to extend the time frame over which Greece pays back its debt.

Top-selling daily Bild, which has campaigned for the euro zone to cut the Greeks loose, included a picture of Schaeuble in a superhero costume last month, declaring him 'Euroman' and praising him for defending the currency in the face of the 'Greek rescue circus'.

Pictured is a poster outside an Athens bank depicts German Finance Minister Wolfgang Schaeuble as a Nazi Among the measures demanded that would directly affect citizens are lifting a ban on Sunday trading for shops, opening up ownership of pharmacies and opening up closed professions such as ferry transport.'I think the terms agreed for the bailout are going to make life very hard for all of us.

But I agree with the idea of Sunday openings, it's a measure that will allow those who work all week to have more time to buy our products, which can only help the economy,' said Melina Petropoulou, 41, the manager of a women's clothes shop.

The mooted loan of £60 billion from the eurozone's emergency fund would then disappear - and the country could very quickly go bust and exit the currency.

Even if the deal does hold together in the shot term, there is a danger that politicians are merely 'kicking the can down the road' unless there is a fundamental restructuring of debt.