Following overnight talks, Eurozone leaders have reached a new Greek debt deal - it was primarily negotiated by Angela Merkel, François Hollande and Alexis Tsipras.

Leaving the negotiations Mr Tsipras addressed the press and defended the Greek deal and said that tough decisions had to be made and that this medium-term agreement will allow the country to stand on its own feet again.

"The measures are recessionary, but we hope that putting Grexit to bed, means inward investment can begin to flow" he told reporters after a night of tempestuous negotiations.

The Syriza leader continued: "[this] Deal is difficult but we avoided transfer of assets abroad, plan for liquidity asphyxiation."

Overnight it was reported that €50bn of Greek assets would be transferred to a European institution based in Luxembourg - these assets will now be held in Athens.

Mr Tsipras has also pledged that the highest earners in Greece will be targeted as the country looks to increase tax revenues.

The 14-hour marathon-negotiations are understood to have been highly combative, the Financial Times report that one participant in the finance ministers' summit described the atmosphere in the meeting as "violent."

When the initial German-backed proposals were published online #ThisIsaCoup trended worldwide on Twitter, including periods as the top trending hashtag in Germany, Greece, and Ireland.

The Greek PM now faces the challenge of passing six reform bills in Athens by Wednesday to put today's agreement into action.