Greek parliament passes deal, high cost to ruling party

• Greek parliament successfully passed the deal, which is required to secure Greece's place in Euro zone and to begin negotiation on third Greek bailout deal of € 86 billion.
  
  
• 229 lawmakers of 300 members' parliament voted in favor of the deal, suggesting that further reforms could be passed smoothly. Rest of the lawmakers either voted against or abstained.
  
  
• Greek Prime Minister Alexis Tsipras and Euro zone finance minister Mr. Tsakalotos has defended their position saying that the deal, in which they don't have faith was the choice of lesser evil. Debate over the deal went on for at least 4 hours and the voting happened after mid night deadline.
  
  
• The Syriza government suffered a blow in today's vote. Some 38 lawmakers in Syriza's 149 parliamentary members, including former finance minister Yanis Varoufakis either voted against or abstained.
  
  
• Ball has now been passed to lenders and European Central Bank (ECB) to provide the helping hand to Greece, so that the country can open up its banks again, which has remained closed for almost two weeks. ECB's governing council will hold meeting today whereas German parliament will pass the bill to begin negotiating with Greece.

Euro traded as high as 1.096 against dollar after the result was announced, however trading with downside bias. Currently at 1.093.