Greece's desire to stay within Eurozone is a seriously constrained choice for its economy. This is because it will continue to plague price competitiveness of Greece's exportables in the rest of the world.

Greek MPs have approved tough economic measures required to enable an €86bn eurozone bailout deal to go ahead.

Over the past couple of months, a Greek tragedy has been in the making. Doomsayers had made all kinds of prophesies – regarding Greece, Europe, the financial world, and the Euro.

A detail analysis of BBC on Greece debt crisis.

In a historical referendum on July 5, 2015, the Greek voters overwhelmingly sided with the current government in its debt negotiations with its European partners.

On July 5, the Greek people unanimously voted “No” in the country's referendum on whether to accept the terms of the EU bailout, with a convincing 61 percent of people rejecting the austerity measures brokered by European powers.

The eurozone has given Greece until Thursday to present new proposals to secure a deal with creditors, and has called a full EU summit for Sunday.