After a session The Guardian describes as “a tumultuous, often ill-tempered and at times surreal all-night debate”, the parliamentary green light passes the baton to Greek Finance Minister Euclid Tsakalotos, who heads to Brussels to meet his eurozone counterparts, who must approve the final deal.

International Monetary Fund Chief Christine Lagarde welcomed the agreement but warned that it would not be enough to put Greece back on the path to solvency, according to the BBC.

European Commission President Jean-Claude Juncker said the approval sent a “loud and clear” message that Greece will remain in the Eurozone – ending concerns that the country would be forced out.

The finance ministers’ discussions took place in the face of new signs that Prime Minister Alexis Tsipras of Greece has lost the support of his own leftist Syriza party. “But today, I am glad to say that all sides have respected their commitments”.

“Adoption of the new memorandum and, most importantly, its implementation will determine whether Greece remains a member of the euro area”, Costas Iordanidis, co-founder of the local leading think tank ELIAMEP, wrote in an article in the Kathimerini newspaper.

A leaked Brussels memo highlighted “serious concerns” this week about the sustainability of Greece’s debt mountain.

Merkel ruled out a so-called “haircut” on Greece’s debt but said there were other ways to provide relief by extending debt maturities and reducing interest rates. Greek media said Mr Tsipras was expected to call a vote of confidence in his government.

She said eurozone partners would now be watching to see “whether the intensity of this work continues”, saying that further Greek measures were necessary “if we want to see the light at the end of the tunnel”.

The remainder of the first 26-billion-euro bailout tranche will be disbursed in the coming months in return for Greek reform progress, the eurozone finance ministers said in a statement.

“Too much time was wasted for too long”, he said.