Greek bailout terms to give eurozone vast powers over policymaking

A 29-page document setting out conditions of a85bn deal shows Greece faces more austerity and health, welfare, pensions and tax overhaul

The Greek government is to surrender powers over vast areas of economic and social policymaking to its eurozone creditors under draconian terms agreed for a new three-year bailout.

The 29 pages of conditions concede ultimate authority over much of Greek policymaking to the eurozone and establish a system of quarterly reviews of the reforms by the troika of institutions - the European commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) - representing the creditors.

Related: Memorandum of understanding: What exactly has Greece signed up for?

Related: The Guardian view on the Greek bailout: a deal that addresses nothing | Editorial

Related: No wonder the Greek finance minister looks resigned over possible bailout deal