Greek faces tough conditions under deal with euro zone

Women withdraw money at an Alpha Bank branch ATM in central Athens, Greece, July 13, 2015. [Photo/Agencies]

The deterioration of the Greek economy since Tsipras won office in January, and particularly in the last two weeks, had led to a much higher financing need, she said.

One senior EU official put the cost to Greece of the last two weeks of turmoil at 25 to 30 billion euros. A euro zone diplomat said it might be closer to 50 billion euros.

Malta's Prime Minister Joseph Muscat said Greece had been "humiliated" - mostly as a result of its refusal to take an offer made to it two weeks ago and he said the talks had been brutal. "It was not pretty to watch," he said.