The deal will need to be approved by eurozone finance ministers and national parliaments, European Commission explained.

Replicated by Thomas Hobbes, John Locke, and only recently, John Rawls, each with his own differing conclusions, Rousseau's political theory only proved to have no solid footing to keep itself in balance.

Greece accepted the negotiation of a third bailout and immediate structural reforms. Parlamentarians of Syriza say the “deal is unacceptable”, and define it as a “coup.”

Greece’s banks are to remain shut for a week, and a referendum on the country's bailout conditions will take place next Sunday, 5 July.