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"We won a battle but not the war," Prime Minister Alexis Tsipras said in a statement to the Greek people after reaching an agreement with the Eurogroup.

"The real hardships, and not only those concerning our negotiations with the partners, are ahead of us," said Tsipras. He spoke of "an initial framework agreement as part of the memorandum and thereafter – a development plan of our own"; he also mentioned a "change of direction" for Greece within Europe.

"This is an agreement, which practically revokes the commitments of the former government to cut wages, to lay off civil servants, to increase VAT on foodstuffs, drugs and tourist services. The agreement also terminates the austerity regime and its mechanisms, e.g. the primary budget surpluses. The agreement creates an institutional framework for applying the necessary reforms; it also covers the fight against corruption and tax invasion, the reforming of the administration and alleviating the humanitarian crisis," the PM added.

Arrows against Samaras’ government

Tsipras also slammed Samaras’ government: "About 20 days ago, we got a country on the edge, with empty coffers and no liquidity. On top of that, the country was trapped in a deliberately stifling timeframe because some had concocted a scenario, without so much as to think about its impact on the already weakened economy and a homeland already plundered by the memoranda," he said and added: "Yesterday (Friday), we cancelled those plans. We frustrated the plan of the blind, conservative forces, in and outside the country, to suffocate Greece on 28 February. We kept Greece upright."

Tsipras qualified the day of agreement as "more important for Europe than for Greece"; he also emphasised that his government had proven that Europe was an area for negotiation and mutual compromise rather than an area of destruction, obedience and blind punishment.

"The negotiations are moving into a new, substantial stage, until a final agreement is achieved for a transition from the policy of memoranda to a policy of development, job creation and social unity."

In conclusion, Tsipras maintained: "In this decisive battle …. the Greek government’s resolution is even firmer. Our main objective is to restore the national and the people’s rule. We only have a single ally and assistant, but also a demanding judge – the Greek people. An ally, but also an active participant in the great effort for political change and social salvation. Our common fight goes on."

Meanwhile, Prime Minister Alexis Tsipras and Finance Minister Yannis Varoufakis informed the government about the agreement with the Eurogroup. According to the ministers, this was the first time that the Greek government negotiated in earnest and achieved significant benefits. The plan of reforms, which will be presented to the Eurogroup, was also mooted.

In response to the prime minister's statement, New Democracy came up with a statement of their own. It calls on the agreement "a retreat on all fronts and abandonment of all election promises by Tsipras' government".

Here are some of the points listed in New Democracy’s statement: