Greece has until midnight tonight (July 9) to deliver what its Prime Minister Alexis Tsipras has promised will be credible reform plans, in order to secure a future in the euro and stave off financial collapse.

After a mixed response to his appearance at the European Parliament, the premier knows he must capitulate to creditor demands for cuts and tax rises, but he’s still hoping to include a mention of debt relief.

On returning to Athens, Greek President Propokis Pavlopoulos commented that it had become clear to Strasbourg that the verdict of the Greek people in the referendum is not to be interpreted as a breach but as a restart of negotiations with one goal – the participation of Greece in Europe and the eurozone.

Although some of Greece’s creditors including Germany are resisting restructuring the debt, IMF chief Christine Lagarde, appears to disagree:

“We have always advised that a programme walks on two legs, if you will. One leg is about significant reforms and fisc