Syriza party rallies behind Greek PM Tsipras to approve austerity reform package

Greek Prime Minister Alexis Tsipras's Syriza party rallied on Friday 11 July to approve a package of concessions and structural reforms presented to the country's creditors.

The move came as some anti-austerity protestors tussled with police in the streets of Athens following publication of the concession package Tsipras presented to the country's creditors Thursday night.

Fresh concessions have the Prime Minister promising €13bn (£9.3bn, $14.4bn) in cuts reforming pensions, raising the retirement age to 67 years, cutting military spending, eliminating tax loopholes, and a raft of other measures to unlock a €53.5bn debt relief package.

On closing Friday 10 July European markets appeared to support the measures as Germany's Dax gained 2.9%, London's FTSE 100 rose 1.39%, and indexes in France, Italy, and Spain each gained roughly 3%.

Greece owes a total of €323bn in debt. Eurozone leaders are set to examine the new proposals Saturday before EU leaders vote on whether they agree to the terms.

Greek banks are set to reopen Monday along with the country's stock market.